• Wed. Jun 22nd, 2022

Bloomberg expands its terminal data offering with 40 new cryptocurrencies

ByHazel R. Lang

Jun 9, 2022

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Bloomberg announcement on Thursday that it expanded its data coverage on the Bloomberg Terminal, which will now include 50 cryptocurrencies.

Users of its business terminal will be able to see data on bitcoin (BTC), ether (ETH), binance coin (BNB), and solana (SOL), among others, according to the announcement. This will allow clients to access and monitor intraday prices of crypto, index and futures contracts in real time.

Cryptocurrency prices were first added to the terminal – a ubiquitous feature on Wall Street traders’ desks – in 2013 with the introduction of bitcoin. The supply was expanded to 10 cryptocurrencies in 2018 and has now grown to 50.

According to its announcement, the company is reviewing potential assets to add to the terminal based on the following assessments: institutional custodial support, trading access, market capitalization and turnover consistency.

As the crypto space matures and more institutional investors actively develop investment strategies involving crypto, the demand for reliable and verifiable data on the nascent space has increased.

Alex Wenham, product manager for cryptocurrencies at Bloomberg, said the company aims to help institutions around the world integrate digital assets into their workflows. Before adding that “as this market grows, we will continue to evolve our data-driven offerings to help our customers define and develop their strategies in this space”.

Bloomberg competes with The Block to provide news and information on crypto markets.

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