Bloomberg Partners with Galaxy Digital to Launch DeFi Benchmark

The leading financial information provider Bloomberg has partnered with Galaxy Digital, a diversified financial services and investment management company dedicated to the digital asset and blockchain technology sectors, to launch Bloomberg Galaxy DeFi Index (ticker: DEFI).

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According to the announcement, the index is designed to measure the performance of the largest decentralized finance (DeFi) protocols by market value that offer financial services without a central financial intermediary, such as brokerages, exchanges, or banks.  

Alongside the index launch, Galaxy Digital's funds platform, Galaxy Fund Management, is now offering the Galaxy DeFi Index Fund, a passively managed fund tracking the performance of DEFI.

"Decentralized finance is growing as the next major investment theme within crypto," said Alan Campbell, Head of Product Management for Bloomberg's Multi-Asset Index business. "As liquidity and institutional custody solutions continue to grow, DeFi has become an increasingly compelling option for institutional investors, and we'll continue working with Galaxy to expand our crypto index offering."

"The blockchain-based infrastructure behind DeFi is maturing at an accelerating rate and clear examples of how this new technology can disrupt financial services are emerging in real-time. This partnership with Bloomberg and our DeFi Index Fund provides investors with data and tools that deliver calculated exposure to the future of financial services,"said Steve Kurz, Partner and Head of Asset Management at Galaxy Digital.

Last month, Bloomberg has launched Market-Implied Probability of Default (MIPD)​, a market-driven daily credit risk indicator for both Enterprise Data and Bloomberg Terminal clients globally.