CoinDesk Indices, a subsidiary of CoinDesk, has introduced the CoinDesk 80 Index to meet the increasing institutional demand for liquidity across 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 bullish exchange, 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 under the ticker 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 presents to expand liquidity, strengthen informed trading strategies and advance the maturation of the crypto ecosystem,” Jon Loflin, Chief Investment Officer, GSR, told CoinDesk.
With increasing demand from institutional investors for derivatives markets for digital assets, the new index will provide traders with broader market exposures in the altcoin sector. “CoinDesk 80 Index Perpetual Future will enable us to effectively manage market exposure stemming from our extensive altcoin offering to our clients. It is another innovative product from Bullish that enhances their strong product suite and moves index derivatives forward,” Maxime Seiler, CEO of STS Digital Ltd, said.
Key features of the CoinDesk 80 Index include a focus on liquid and large market assets with minimal exclusions for stablecoins and wrapped tokens, along with comprehensive liquidity screening. The index components are weighted according to market value with a ceiling of 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 pleased to launch the CoinDesk 80 Index Perpetual Futures Contract on our platform, leveraging our tight spreads, deep liquidity and robust regulatory framework to support market participants.”
A year ago, CoinDesk Indices debuted the CoinDesk20 index, a benchmark for larger-cap digital assets. Since then, it has seen over $12 billion in total trading volume and is linked to a dozen investment products globally.
