Bloomberg Expands Crypto Asset Coverage
Posted by Colin Lambert. Last updated: June 10, 2022
Bloomberg has announced an expansion of its coverage of cryptocurrency data on the Bloomberg Terminal to include the top 50 crypto assets. The company says clients can now monitor intraday pricing for an expanded universe of cryptos, indices and futures contracts in real-time for faster, data-driven investment decisions.
Bloomberg has covered the cryptocurrency space for almost a decade and began providing Bitcoin prices on the Terminal in 2013, this was expanded in 2018 to 10, and now to the top 50.
Bloomberg says thousands of cryptocurrencies trade every day on hundreds of venues and the quality of these assets and the venues they trade on “varies greatly”. It adds it takes a data-driven approach to selecting the cryptocurrency data to include on the Terminal and ensures that approach evolves along with the crypto markets. Bloomberg has developed a rigorous vetting model, it continues, which is available to view on the Terminal, that takes into account its institutional client base. The process includes assessments of institutional custody support, trading access, market capitalisation, and consistency of turnover.
“Our mission is to help the global institutional investor community to seamlessly incorporate digital assets into their workflows in a trusted and familiar way, on the Bloomberg Terminal,” says Alex Wenham, product manager for cryptocurrencies at Bloomberg. “As this market develops, we will continue to evolve our data-driven offerings to help our clients define and develop their strategies in this space.”