Nomura Research Institute(NRI) in partnership with the cryptocurrency Investment solution provider Intelligence Unit(IU) has announced the opening of a tradable crypto index.
NRI, an affiliate of the financial services giant Nomura Holdings which offer cryptocurrency related services. In this regard, the two partners in 2019 announced an agreement on capital alliance which focused on blockchain technology.
The information is meant for use by financial institutions and draws data from crypto index platform MVIS and major cryptocurrency data platform crypto compare.
In a press release published earlier this week, addresses the impact the information of the tradable index will have on the global crypto markets in U.S dollars and Japanese yen by tracking the largest cryptocurrencies.
“The new index’s name according to the company is NRI/IO Crypto-Asset Index and it is meant for use by the financial institute. The index also draws date from cryptocompare”, the statement read.
This indeed is expected to track the performance of a press-defined basket of crypto assets which is said to be tradable in both dollars and yen on NRI’s platform.
Cointelegraph reports that the index which is set to be launched will include Bitcoin(BTC), Bitcoin Cash(BCH), Ether(ETH), Litecoin(LTC) and XRP.
Meanwhile, the Chief Executive Officer, IU, Akihiri Niimi commented on the launch, saying demand from instructions investor is contributing to the growth of crypto-asset funds, and well-diversified products like index funds are attractive as alternative investments.
Niimi, emphasizing the performance, claims that statistics show 33.9 percent performance on-year to date, while it claims that the one-year performance 104.86% and the three-year return is 2,211 approximately 26 percent.
No doubt, this partnership is strategic to both parties. NRI collaboration with IU gives cryptocurrencies to become widely known as an asset class. Therefore, quite a number of firms are seeing the potentials in developing derivatives giving exposure to their price fluctuations.