US stock exchange Nasdaq has added a new crypto index projecting the market performance of blockchain projects developing decentralized finance (DeFi) solutions.
Announced on Monday, the index will track “real-time” information of major DeFi projects, including Augur, MakerDAO, Amoveo, and 0x.
Dubbed DeFix, the index was developed by London-based brokerage firm Exante. It will be shown on Nasdaq under the ticker symbol of DEFX. In addition, traders can also track the index on TradingView and Google, with the possibility of future listing on Yahoo Finance as well.
“DeFiX is the first altcoin index that reflects the dynamics of the most promising blockchain projects working in decentralized finance: Augur, Gnosis, Amoveo, Numerai, Maker, 0x,” Nasdaq stated.
2020 Global Market Outlook: How the “Known Unknowns” Can Affect CurrenciesGo to article >>
Available on the Nasdaq Global Index Data ServiceSM (GIDS), the index will update its data every 60 seconds.
An old player of the crypto industry
Exante is the operator of one of the oldest crypto funds called Bitcoin Fund. The company launched it in 2012 when the digital currency was trading at the value of peanuts. Since its inception, the fund overalled a total return on investment of 70,000 percent. The company also launched another fund with a basket of cryptocurrencies, including Ethereum, Litecoin, and Monero.
Exante is also planning to launch a fund based on the DeFix index in the future and assured it would provide investment opportunities through “a secure, financially accredited agency.”
This is not the first listing of a crypto-related index on Nasdaq. In June, the exchange partnered with CryptoCompare, a digital asset data provider, to launch a cryptocurrency pricing product to enable institutional investors to monitor the nascent digital asset class and assess investment opportunities.
Meanwhile, the exchange is also lending its surveillance technology to various digital asset exchanges to monitor real-time trading activity and raises alerts with the exchange if it discovers unusual trading activity.