'S&P for Crypto' Startup BITA Launches the First Series of Digital Asset Indexes and Benchmarks
BITA has officially announced the launch of the BITA Index series.
FRANKFURT, Germany, May 16, 2018 /PRNewswire/ -- BITA has officially announced the launch of the BITA Index series, the first line of fully independent indexes and benchmarks tracking both cryptocurrencies and digital tokens.
The initial index offering encompasses the BITA50 (B50) index, a market benchmark covering x% of the total market capitalization, as well as a 40 (BITA40), 30, 20 and 10 token variations, specifically designed to underlie passive investment products and ensure a proper balance between diversification and liquidity. The indexes include a series of rules-based qualitative and quantitative filters to avoid regulatory and compliance pitfalls.
The goal of BITA (www.bitadata.com), according to its founders, is to establish itself as the global leader of digital asset based indexes and data. The founding team has put special focus in ensuring the quality and integrity of all the underlying data, following methodologies and processes widely used in the professional capital markets. The objective is to tackle some of the concerns voiced by institutional investors interested in allocating capital to the new asset class.
Victor Gomez, Managing Director of BITA, said: "Digital Assets (Cryptocurrencies and Tokens) will become an asset class present in the asset allocation mix of most institutional portfolios. We are very excited to contribute to the evolution of the industry and build the first series of indexes and data products that comply with the transparency, regulation and quality standards that the world's top institutions require."
According to a recent report, Blockchain Capital Markets, from Celent, "Financial institutions need to develop a diverse disciplinary approach to this new asset class because it will impact capital allocation, liquidity generation, and portfolio construction."
"Regulated digital asset exchanges and security tokens will represent an important inflection point as digital assets continue to attract institutional capital. Institutional-grade indexes and data products, like those offered by BITA, will also play an important part," says Celent analyst John Dwyer.
The company claims to not be afraid about competition from larger firms, and is aggressively looking to build an ecosystem around its offering.
"We want the industry to stop benchmarking against Bitcoin. Therefore we want to encourage media participants, crypto enthusiasts, analysts, researchers, startups and students to contact us in order to receive our index data as well as proprietary crypto prices for free. We want to help the ecosystem to develop," said Christoph Brück, Managing Director of BITA.
The company claims to have already secured institutional clients for the launch of passive investment products targeting professional investors, and is already working on a sector and smart beta offering.
Summary
- BITA has launched a series of digital asset indexes that comply with the quality, transparency and regulation standards of institutional investors.
- BITA is focused on developing indexes, benchmarks and data for institutional investors targeting the digital asset market.
- BITA is incentivizing media, academic and research groups to participate in its ecosystem, by giving them access to its index and crypto data for free.
About BITA
Founded by a team with more than 20 years of experience in multi- and alternative asset indexation, BITA is the first professional index and data provider in the digital asset space. Through state of the art technology, BITA is building the institutional-grade data infrastructure required to enable institutional investments in digital assets.
SOURCE BITA
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