Nomura Research Institute (NRI) released a benchmark index on Friday comparing Japanese crypto assets.
The Tokyo-based management consulting and research firm said the “NRI / IU Crypto-Asset Family Family” was created in collaboration with the Intelligence Unit LLC (UI). The index will be available through the NRI’s financial information database called IDS.
This benchmark is dedicated to domestic and international institutional investors, financial information providers and exchanges.
Benchmark index for institutional
A benchmark index is meant to gather information specific to the Japanese crypto market, including data on crypto-yen pairs and closing values. This is a standard that allows traders to evaluate the performance of a portfolio or a particular asset against the wider market.
“The growing investment needs for crypto assets have led, in turn, to a high demand for a benchmark index to evaluate these investments,”
the company said in a statement.
The NRI / IU benchmark index will include Bitcoin, Ether, Litecoin, Bitcoin Cash and XRP. It will be calculated using the MVIS index platform, with the cryptocurrency price data provided by CryptoCompare.
“The high demand from institutional investors contributes to the growth of funds based on crypto assets. Well diversified products such as index funds are attractive as alternative investments ”,
said Akihiro Niimi, CEO of the UI.
“We want to create a bridge between the traditional and the crypto financial industry by providing professional indices. We want to encourage investments in cryptocurrencies as an alternative to classic assets ”.
In September, CF Benchmarks became the first crypto index provider to be licensed in Europe. The UK Supervisory Authority has granted him a BenchMark Administrator (EU BMR) license, allowing institutions to use his indexes in any European financial products.
Nasdaq launched in October an AI-top index of the best performing cryptocurrencies for Wall Street traders.
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