The Bloomberg terminal has increased its crypto exposure: 40 more coins
Bloomberg Terminal has expanded its coverage to 50 crypto assets to give its official investor client base better data on market movements.
Bloomberg, the financial and technical information platform, has greatly expanded its coverage of the crypto market following its decision to include data on the top 50 crypto assets in the Bloomberg terminal.
Alex Wenham, product manager for cryptocurrency at Bloomberg, suggests that the “global institutional investor” community’s interest in digital assets continues to grow, so they need a way to “incorporate digital assets into their workflow.”
As of 2018, Bloomberg terminals already had 10 cryptocurrencies, including BTC, ETH, and XRP. The expansion adds an additional 40 coins to the SOL-like mix, allowing financial professionals and organizations to access and trade real-time financial market data.
This is the highest expansion of its crypto data since 2013, when Bloomberg Terminal began tracking BTC.
Su Zhu, the co-founder of Three Arrows Capital Crypto Investment Fund, appears to be pleased with the new addition to the terminal. He tweeted on Friday that “also great that they linked to the white paper.”
The Bloomberg Terminal is considered a key tool for professional and institutional investors as it provides insights into analysis, compliance, and risk and allows users to do business. Bloomberg says it tests assets at the terminal through a data-driven approach and “ensures that approach evolves along with the crypto markets.”
By visiting CRYP <GO> Bloomberg Terminal, users can access the intraday pricing for all crypto it tracks.
Adding many more crypto assets to the Bloomberg terminal indicates greater maturity in the crypto market. Organizations are looking more closely at their opportunities in space to develop platforms and move towards profitability.
A bitcoin-thematic exchange-traded fund (ETF) was listed on June 7 by the Italian stock exchange Borsa Italiana as proof of their interest.
