Financial and technical information platform Bloomberg has vastly expanded its coverage of crypto markets following a decision to incorporate data on top 50 crypto assets within the Bloomberg Terminal.
Product manager for cryptocurrencies at Bloomberg Alex Wenham recommended that as “the global institutional investor” community’s curiosity about digital assets keeps growing, they’ll need a method to “seamlessly incorporate digital assets to their workflows.”
Bloomberg already had 10 cryptocurrencies in the terminal by 2018, including Bitcoin (BTC), Ether (ETH) and Ripple (XRP). The development adds yet another 40 coins towards the mix for example Solana (SOL), allowing financial professionals and institutions access real-time financial market data and also to place trades.
This is actually the largest growth of its crypto data since Bloomberg Terminal started tracking BTC in 2013.
Bloomberg’s market-leading coverage of cryptocurrency data around the Bloomberg Terminal continues to be expanded to incorporate the very best 50 crypto assets, including Bitcoin, Ethereum, Binance Gold coin, XRP, Solana and much more. https://t.co/NknHawFOez
— Bloomberg Terminal (@TheTerminal) June 9, 2022
Co-founding father of the 3 Arrows Capital crypto investment fund Su Zhu appears happy with the brand new inclusions in the terminal. He commented inside a tweet on Friday that it’s “Also awesome they connect to the white-colored papers.”
Kinda fun to see the gold coin descriptions that @crypto has put into Bloomberg Terminal
Also awesome they connect to the white-colored papers pic.twitter.com/U7AN3tI7CK
— Zhu Su (@zhusu) August 6, 2019
Bloomberg Terminal is recognized as a seminal tool for professional and institutional investors because it offers analysis, insights on compliance and risk and enables users to create trades. Bloomberg states it vets assets around the terminal via a data-driven approach and “ensures that approach evolves combined with the crypto markets.”
Bloomberg Terminal users have access to the intraday prices for those crypto it tracks by going to CRYP
Adding so much more crypto assets to Bloomberg Terminal signifies greater maturity within the crypto markets. Institutions take a significantly closer take a look at their possibilities inside the space to both develop platforms and make money.
Related: Despite bearish trend, hedge money is dipping their toes in crypto: PwC
Their interest rates are evidenced through the Italian stock market Borsa Italiana listing a Bitcoin-thematic exchange-traded fund (ETF) on Thursday.
