Singapore Exchange (SGX) is launching new Crypto indices

Singapore Exchange (SGX) is launching new Crypto indices

As part of improving global access to digital asset products, the Singapore Exchange (SGX) will launch Bitcoin and Ethereum Index.

0

1 Sep 2020 , 18:00 @ Matey Salt

Singapore Exchange (SGX) is launching new Crypto indices

As part of improving global access to digital asset products, the Singapore Exchange (SGX) will launch Bitcoin and Ethereum Index.

Investors and traders in Asia can from now look forward to several new indices that expand the iEdge range, informs SGX. Thanks to the collaboration between the Singapore Exchange (SGX) and CryptoCompare, two crypto indices will soon be available, the iEdge Bitcoin Index and iEdge Ethereum Index.

Simon Karaban, Head of Index Services at SGX said:

As the world moves swiftly towards digitalisation in the creation and accumulation of wealth, digital assets are increasingly being adopted by investors. We are excited about this collaboration with CryptoCompare to offer a suite of new indices for market participants in Asia, reinforcing our endeavour to innovate and meet market needs,

James Harris, Commercial Director of CryptoCompare said:

Our mission is to bring greater transparency to the digital asset class by providing high quality, trusted data and indices. We are delighted to work in partnership with SGX to offer greater global access to institutional-grade digital assets products on Asia’s leading multi-asset exchange,

Among the main factors that prompted the emergence of these indices is the fact that the total assets under management (AUM) globally of digital asset tracker funds are on the rise and, according to data from CryptoCompare, have risen from $ 220 million in March 2017 to over $ 4.5 billion by June 2020 (148% annual growth).

Asia also has a high share of fiat-crypto trading pairs, accounting for up to 43% of total global spot volumes, but compared to the rest of the world, it has only a fraction of the companies that operate AUM.

Read also: SBI Holdings brings the first Crypto CFD trading to Japan

Follow our social media and get news on time

    1,708 Views
    0
    Share to:

    Publication author

    offline 5 hours

    Matey Salt

    3
    Comments: 0Publics: 219Registration: 04-02-2020
    Author Image
    September 1, 2020
    Authorization
    *
    *
    Registration
    *
    *
    *
    Password generation