Coin Metrics — a cryptocurrency analytics company — has recently announced acquisition of Bletchley — Indexes digital asset index firm — in a blog post dated June 7.
After being acquired, it will be rebranded to Coin Metrics Bletchley Indexes (CMBI). The motive for the acquisition was to allow for the launch of crypto smart beta indexes.
Following the relaunch, the newly acquired firm:
“will leverage Coin Metrics’ on-chain and market data expertise to expand the family of indexes to include such smart beta indexes based on key network metrics.”
Based on a number of criteria, the first CMBI indexes will cover a wide range of major crypto assets and will be weighted on market capitalization. Moreover, using market data and Coin Metrics’ network, current indexes of Bletchley will be relaunched.
As per Investopedia, smart beta investing can be defined as a strategy that aims to lower risk, obtain alpha, or escalate diversification through the blending of active and passive investing strategies benefits.
In May, Coin Metrics reportedly found some errors in Ripple’s escrow system reporting that operates on blockchain payments network.
Towards the end of April, Nasdaq — the largest stock exchange in the world — gave some hints that it intends to make its global data service to support an XRP Liquid Index (XRRLX).