Asia's leading multi-asset exchange, the Singapore Exchange (SGX), announced on Tuesday the launch of cryptocurrency indices tracking Bitcoin and Ethereum.
Partnership with CryptoCompare
Developed in collaboration with UK-based cryptocurrency market data provider CryptoCompare, these new indices will be included in SGX's iEdge index suite. The indices exclusively utilize trading data from top-tier cryptocurrency exchanges to ensure reliability.
Index Methodology Highlights:
- iEdge Bitcoin Index and iEdge Ethereum Index employ 24-hour volume-weighted average pricing
- Prioritizes prices from high-liquidity markets while minimizing impact from illiquid venues
- Designed to reflect the most accurate market-representative values
Institutional-Grade Market Tools
Somin Karaban, Head of SGX's Index Services, stated:
"As the world rapidly digitizes wealth creation and accumulation, digital assets are gaining traction among investors. Our partnership with CryptoCompare delivers innovative index solutions tailored to Asian market needs."
James Harris, Commercial Director at CryptoCompare, emphasized their mission:
"To bring greater transparency to digital assets through high-quality, trusted data and indices. Collaborating with SGX expands institutional access to regulated crypto products across Asia."
Key Benefits for Singapore Businesses:
- Provides regulator-approved pricing benchmarks for Bitcoin/ETH-linked investment products
- Offers superior accuracy for large-scale traders compared to public aggregators like CoinMarketCap
- Facilitates creation of compliant crypto derivatives and structured products
Expanding Crypto Index Offerings
This follows CryptoCompare's other exchange partnerships in 2024, including:
- Launching the NRI/IU Crypto Asset Index with Nomura Securities
- Collaborations with MV Index Solutions and Intelligence Unit
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FAQ Section
Q: Why are regulated crypto indices important?
A: They provide auditable pricing references needed for ETFs, futures, and other financial instruments while meeting compliance requirements.
Q: How does SGX's index differ from CoinGecko/CoinMarketCap?
A: SGX indices undergo stricter methodological reviews and use filtered exchange data to prevent manipulation.
Q: Will these indices include other cryptocurrencies?
A: Currently limited to BTC/ETH, but SGX may expand offerings based on market demand.
Q: Can retail investors use these indices?
A: While designed for institutions, they provide reliable market signals for all participants.