Bloomberg in a partnership with Galaxy Digital announced the launch of its own decentralized finance (DeFi) index called the Bloomberg Galaxy DeFi Index. The index is created to measure the performance of the largest DeFi protocols by market value, including Uniswap (40% of the index), Aave (18%), and Maker (12.7%), according to a press release.
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Alan Campbell, Head of Product Management for Bloomberg's Multi-Asset Index business, says the DeFi market becomes the next big thing within crypto.
"As liquidity and institutional custody solutions continue to grow, DeFi has become an increasingly compelling option for institutional investors, and we will continue working with Galaxy to expand our crypto index offering," Campbell added.
Bloomberg says DeFi protocols will be considered for addition or removal to or from the Index once in a month. DeFi-focused index is not something new for the traditional finance market. As iHodl earlier reported, EXANTE, an international broker, launched its own DeFi index on NASDAQ called Defix under ticker DEFX.