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BitGo Collaborates with CoinDesk Indices to Offer Custody Solutions for CoinDesk 20 IndexThe CoinDesk 20 Index has generated institutional demand with approximately $5 billion in perpetual futures volume since January 2024 NEW YORK, May 22, 2024 /PRNewswire/ -- CoinDesk Indices, the leading provider of digital asset indices since 2014, today announced a collaboration with BitGo, the leading digital asset custodian and wallet solutions provider, to offer custody of the underlying assets that make up the CoinDesk 20 Index to global institutions and advisors seeking access. Launched in January 2024, the CoinDesk 20 Index addresses the growing demand from institutional investors for more diverse portfolio options beyond bitcoin ETFs. It tracks the performance of top digital assets, applying a capped market capitalization weighted methodology to ensure diversification. Designed for scalability, the CoinDesk 20 Index has already been adopted by leading market making firms. "We have seen demand for accessing a turnkey broad-based digital asset solution," said Adam Sporn, Head of Prime Brokerage and U.S. Institutional Sales, BitGo. "By leveraging our institutional expertise as custodians, we're excited to partner with CoinDesk Indices and provide our customer base with access to the top digital assets within the CoinDesk 20 Index, as investors seek to increase exposure to digital assets beyond Bitcoin." Following CoinDesk 20's launch earlier this year, Bullish—the fastest-growing regulated digital asset exchange—launched a new perpetual futures contract on the index, marking an industry first. The CoinDesk 20 perp has attracted substantial institutional interest, driving a trading volume of approximately $5 billion sincelaunch. "Recognizing institutional investors are increasingly interested in accessing the broader market, the CoinDesk 20 was constructed to support the largest and most traded financial products," said Alan Campbell, President of CoinDesk Indices. "We are thrilled to partner with a market leader like BitGo to enable access to the CoinDesk 20, a seamless way to measure, trade, invest, and stake in the growing digital asset class." For more information on BitGo visit www.bitgo.com. To learn more about the CoinDesk 20 Index, please visit: coindeskmarkets.com/cd20. About CoinDesk Indices About BitGo CoinDesk Indices disclaimer: CoinDesk is a portfolio company of the Bullish group. CoinDesk Indices, Inc. ("CDI") does not sponsor, endorse, sell, promote or manage any investment offered by any third party that seeks to provide an investment return based on the performance of any index. CDI is neither an investment adviser nor a commodity trading advisor and makes no representation regarding the advisability of making an investment linked to any CDI index. CDI does not act as a fiduciary. A decision to invest in any asset linked to a CDI index should not be made in reliance on any of the statements set forth in this document or elsewhere by CDI. All content contained or used in any CDI index (the "Content") is owned by CDI and/or its third-party data providers and licensors, unless stated otherwise by CDI. CDI does not guarantee the accuracy, completeness, timeliness, adequacy, validity or availability of any of the Content. CDI is not responsible for any errors or omissions, regardless of the cause, in the results obtained from the use of any of the Content. CDI does not assume any obligation to update the Content following publication in any form or format. © 2024 CoinDesk Indices, Inc. All rights reserved. View original content to download multimedia:https://www.prnewswire.com/news-releases/bitgo-collaborates-with-coindesk-indices-to-offer-custody-solutions-for-coindesk-20-index-302152275.html SOURCE CoinDesk Indices |