CoinDesk Indices, a subsidiary of CoinDesk, has introduced the CoinDesk 80 index to address growing institutional demand for liquidity in various digital assets.
The new offering is designed to track the performance of the next 80 digital assets beyond the CoinDesk20 index, according to a press release. The bull market, which has surpassed $1 trillion in cumulative trading volume since its inception in November 2021, has listed a perpetual futures contract linked to the new index with the symbol CD80/USDC-PERP. Bullish is the parent company of CoinDesk.
The index currently counts crypto market makers GSR and STS Digital among its clients. “We are excited about the broader opportunity this provides to expand liquidity, empower informed trading strategies, and promote the maturation of the crypto ecosystem,” Jon Loflin, chief investment officer at GSR, told CoinDesk.
With growing demand from institutional investors for digital asset derivatives markets, the new index will provide traders with broader market exposure to the altcoin sector. “The CoinDesk 80 Index Perpetual Future will allow us to efficiently manage the market exposure that arises from our extensive offering of altcoin options to our clients. It is another innovative product from Bullish, enhancing its strong suite of products and advancing index derivatives “Maxime Seiler said CEO of STS Digital Ltd.
Key features of the CoinDesk 80 index include a focus on large market and liquid assets, with minimal exclusions for stablecoins and wrapped tokens along with comprehensive liquidity analysis. Index components are weighted by market capitalization, capped at 5% per asset to ensure diversification.
“Demand for index products is growing as digital assets become an established part of global financial markets,” said Tom Farley, CEO of Bullish. “We are excited to launch the CoinDesk 80 Index Perpetual Futures Contract on our platform, leveraging our tight spreads, deep liquidity, and strong regulatory framework to support market participants.”
A year ago, CoinDesk Indices introduced the CoinDesk20 index, a benchmark for larger-cap digital assets. Since then, it has recorded a total trading volume of more than $12 billion and is linked to a dozen investment products globally.
