CoinDesk Indices Launches CoinDesk 80 Index to Broaden Exposure to Digital Assets

CoinDesk Indices, a division of CoinDesk, has unveiled the CoinDesk 80 Index to address the increasing demand for diversified liquidity in the digital asset market. The new index will track the performance of the next 80 largest digital assets beyond the CoinDesk 20 Index, according to a press release.

In line with this launch, Bullish, the parent company of CoinDesk, has listed a perpetual futures contract tied to the CoinDesk 80 Index under the ticker CD80/USDC-PERP. Since its inception in November 2021, Bullish has accumulated over $1 trillion in total trading volume.

The CoinDesk 80 Index is designed to provide institutional investors and traders with broader market exposure, particularly in the altcoin sector, which has seen growing interest. GSR and STS Digital, two crypto market makers, are among the first clients of the new index. Jon Loflin, Chief Investment Officer at GSR, commented, “This new index presents an exciting opportunity to enhance liquidity, enable informed trading strategies, and foster the continued growth of the crypto ecosystem.”

With an increasing appetite for digital asset derivatives, the CoinDesk 80 Index offers traders a means to access a broader range of assets beyond the largest cryptocurrencies. Maxime Seiler, CEO of STS Digital Ltd, stated, “The CoinDesk 80 Index Perpetual Future will help us efficiently manage market exposure across our altcoin offerings. It’s a significant addition to Bullish’s diverse product suite.”

The CoinDesk 80 Index prioritizes liquidity and large-market assets, excluding stablecoins and wrapped tokens. The index constituents are weighted by market capitalization, with a 5% cap per asset to ensure a balanced and diversified approach.

Tom Farley, CEO of Bullish, expressed enthusiasm about the index, saying, “As digital assets continue to integrate into global financial markets, the demand for index products is expanding. The CoinDesk 80 Index Perpetual Futures Contract, with our tight spreads, deep liquidity, and strong regulatory framework, will provide valuable support to market participants.”

A year after the launch of the CoinDesk 20 Index, which tracks the largest digital assets, the CoinDesk 20 has seen more than $12 billion in trading volume and is linked to several investment products worldwide, highlighting the growing relevance of index-based products in the digital asset space.