SINGAPORE (THE 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.

It added: “While much of the AUM is currently captured by asset managers based in the United States and the Europe, Middle East, and Africa (EMEA) region, Asia is well-positioned to raise its share of this global AUM given that Asian fiat-crypto trading pairs now account for 43 per cent of total global spot volumes.”

(Excerpt) Read more Here | 2020-09-01 18:14:06
Image credit: source

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