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Saturday, September 24, 2022

Bloomberg Terminal Has Supersized The Coverage Of Its Cryptocurrencies

Bloomberg, the technical and financial information platform, has already expanded its coverage of the crypto space after a decision was made to include the data of the top 50 crypto assets in its terminal.

Alex Wenham, the product manager for cryptocurrencies at Bloomberg, recently suggested that as the interest of the global institutional investors in digital assets keeps increasing, they would soon have to find a way that would seamlessly incorporate the digital assets into their assimilated workflows. The platform already has close to 10 cryptocurrencies in its terminal as of 2018- which include Ripple, Ethereum, and Bitcoin.

Bloomberg Terminal To Offer Data On 50 Crypto Assets

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This would definitely be the largest expansion of crypto-based data since the Bloomberg Terminal started tracking Bitcoin in 2013. Su Zhu, the co-founder of the Three Arrows Capital crypto investment fund, does seem inordinately pleased with the expansions made to the terminal. He went on to comment in a tweet last Friday that it did seem pretty cool that the terminal would be linking to white papers. 

Bloomberg Terminal has always been considered to be a seminal tool- usually used by professionals and institutional investors- since it offers multiple analyses along with insights on compliance and risk. It also allows users to make multiple trades. The platform has stated that it vets assets on the terminal through an approach which is largely data-driven. This also ensures that the approach keeps evolving along with the multitude of crypto markets. 

Bloomberg terminal users will also be able to access the intraday pricing for all crypto that it tracks by visiting CRYP. Interestingly, the addition of so many more crypto assets to the platform does indicate a far greater maturity in the market of crypto. Most of the institutions have already started taking a much closer look at the opportunities that this platform provides. 

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