Bitcoin data provider CoinMarketCap announced the launching of two cryptocurrency benchmark indices on NASDAQ, Bloomberg, Thomson Reuters, and Börse Stuttgart, according to a press release published by the company.
Both indices will be calculated and administrated by the German index provider Solactive.
The indices will cover the top 200 cryptocurrencies by market capitalization. One, the CMC Crypto 200 Index (CMC200), will include bitcoin and it will cover more than 90% of the global currency market. The other index, the CMC Crypto 200 ex BTC Index (CMC200EX), will exclude bitcoin. It will track the performance of the market without the influence of Bitcoin.
“These indices will be the most comprehensive ones on the market,” said the press release. Market capitalization for each cryptocurrency will be calculated as “price multiplied by circulating supply.”
Brandon Chez, CEO of CoinMarketCap, highlighted both indices as promotors of greater accessibility to cryptocurrency data. People in CoinMarketCap hope that the new indices “will serve to expand the reach of cryptocurrencies into the larger financial markets.”
The CMC200 and the CMC200EX will work on NASDAQ GIDS, Bloomberg Terminals, Thomson Reuters Eikon (Refinitiv), and the Börse Stuttgart. Also, they will be displayed on the CoinMarketCap website. Both indices will be rebalanced on the last day of each calendar quarter.
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