Singapore Exchange is set to launch crypto indices

By Marissa Lee, Business Times

THE Singapore Exchange (SGX) is collaborating with UK-based cryptocurrency market data provider CryptoCompare, to launch crypto indices under the SGX iEdge index suite.

The new indices – iEdge Bitcoin Index and iEdge Ethereum Index – mark SGX Index Edge’s entry into the digital currency asset class.

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.”

According to research data by CryptoCompare, the total assets under management (AUM) globally of digital asset tracker funds rose from US$220 million in March 2017 to over US$4.5 billion by June 2020, representing a compound annual growth rate of 148 per cent.

Copyright @ 2020 Business Times
The story first appeared in Business Times Singapore.
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