Singapore Exchange (SGX) announced its collaboration with UK-based cryptocurrency market data provider CryptoCompare to launch crypto indices under the SGX iEdge index suite. The first batch will consist of iEdge Bitcoin Index and iEdge Ethereum Index.
Simon Karaban, Head of Index Services at SGX commented:
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 added:
Our mission is to bring greater transparency to the digital asset class by providing high quality, trusted data and indices. We are delighted to work in partnership with SGX to offer greater global access to institutional-grade digital assets products on Asia’s leading multi-asset exchange.
Research data by CryptoCompare shows that the total assets under management (AUM) globally of digital asset tracker funds have grown from $220 million in March 2017 to more than $4.5 billion by June 2020 which makes a compound annual growth rate of 148%.