Nomura Launching Benchmark for Japan’s Crypto Assets
The Tokyo-based management consultancy and research firm said the “NRI/IU Crypto-Asset Index Family” – created in coordination with Intelligence Unit LLC (IU) – are going to be available through NRI’s financial information database, IDS, to domestic and overseas institutional investors, financial information vendors and crypto exchanges.
The benchmark is meant to tug together information specific to the japanese cryptocurrency market, including data on crypto-yen pairs and shutting values, beat civil time .
A benchmark index may be a standard allowing traders to guage the performance of their portfolio or of a specific asset against the broader market.
"The increasing investment needs for crypto assets have, in turn, led to a high demand for a benchmark to appraise those investments," the corporate said during a release.
The NRI/IU benchmark will support bitcoin, ether, litecoin, bitcoin cash and XRP. it's calculated using the MVIS index platform, with cryptocurrency data supplied by CryptoCompare.
“Strong demand from institutional investors is contributing to the expansion of crypto-asset funds, and well-diversified products like index funds are attractive as alternative investments," said Akihiro Niimi, IU CEO, during a statement. "We will bridge the normal financial world and therefore the crypto-asset world by providing institutional grade crypto-asset benchmarks, further establishing the status of crypto-assets as alternative investments."
In September, CF Benchmarks became the primary cryptocurrency index provider to be licensed in Europe after the U.K.'s financial watchdog gave it a BenchMark Administrator (EU BMR) license, allowing institutions to use its indices in any European financial products.
Nasdaq launched an AI-powered index of the top-100 best performing cryptocurrencies for Wall Street traders in October.