Singapore Exchange (SGX) has announced a strategic partnership with UK-based cryptocurrency market data provider CryptoCompare to introduce the first cryptocurrency indices within its SGX iEdge index series. This collaboration marks SGX Index Edge’s entry into the digital asset category and expands the range of innovative financial products available to clients across the Asia-Pacific region.
The two new indices—the iEdge Bitcoin Index and the iEdge Ethereum Index—are specifically tailored to meet the growing demand for regulated and transparent cryptocurrency investment vehicles in Asia.
A Strategic Move into Digital Assets
Simon Karaban, Head of Index Services at Singapore Exchange, emphasized the significance of this development:
“As the world moves rapidly toward digitalization in wealth creation and accumulation, digital assets are increasingly being adopted by investors. We are excited to partner with CryptoCompare to offer a new suite of indices that enhance innovation and meet market demand in Asia.”
James Harris, Commercial Director at CryptoCompare, echoed this sentiment, highlighting the importance of reliable data:
“Our mission is to deliver high-quality, trustworthy data and indices that bring greater transparency to the digital asset class. We are thrilled to collaborate with SGX to expand access to institutional-grade digital asset products from one of Asia’s leading multi-asset exchanges.”
The Growing Digital Asset Market
The partnership arrives at a pivotal moment for digital asset adoption. According to research data from CryptoCompare, the global assets under management (AUM) of digital asset tracking funds have surged from USD 220 million in March 2017 to over USD 4.5 billion by June 2020—representing a compound annual growth rate (CAGR) of 148%.
While the majority of AUM is currently held by asset managers in the United States and the Europe, Middle East, and Africa (EMEA) region, Asia accounts for 43% of global spot trading volume in fiat-to-cryptocurrency pairs. This positions the region with significant potential to increase its share of global AUM in the coming years.
Expanding the SGX iEdge Index Suite
SGX Index Edge has built a strong reputation over the past four years by delivering a wide range of indices developed through technological, data, and strategic partnerships. The platform offers solutions across thematic investing, smart beta, futures, fixed income, multi-asset strategies, and now—cryptocurrency.
The addition of cryptocurrency indices aligns with SGX’s commitment to providing investors with diversified, innovative, and reliable financial products that meet evolving market needs.
About Singapore Exchange (SGX)
Singapore Exchange is Asia’s leading and most trusted market infrastructure, operating equity, fixed income, and derivatives markets under the highest regulatory standards. As the most internationalized multi-asset exchange in Asia, SGX offers listing, trading, clearing, settlement, depository, and data services.
Approximately 40% of listed companies and over 80% of listed bonds on SGX are from outside Singapore. The exchange also hosts the world’s most liquid offshore markets for key equity benchmarks of China, India, Japan, and ASEAN, in addition to offering commodity and currency derivatives.
Headquartered in Singapore—a country with an AAA credit rating—SGX is globally recognized for its risk management and clearing capabilities.
About CryptoCompare
CryptoCompare is a global leader in digital asset data, providing real-time, high-quality information on more than 4,200 tokens and 195,000 currency pairs. By aggregating and analyzing tick data from globally recognized exchanges and seamlessly integrating multiple datasets, CryptoCompare offers a comprehensive overview of the market that includes trade, order book, historical, social, and blockchain data.
Frequently Asked Questions
What are the new indices launched by SGX and CryptoCompare?
The two new indices are the iEdge Bitcoin Index and the iEdge Ethereum Index. They are designed to provide reliable and transparent benchmark data for Bitcoin and Ethereum, tailored specifically for the Asian financial market.
Why is this partnership significant?
This is the first collaboration of its kind in the Asia-Pacific region between a major exchange and a cryptocurrency data provider. It signals growing institutional interest in digital assets and provides investors with regulated, high-quality index products. 👉 Explore more about cryptocurrency indices
Who can use these indices?
The indices are aimed at institutional investors, asset managers, and product issuers looking to create ETFs, structured products, or other investment vehicles based on Bitcoin and Ethereum performance.
How does this benefit investors in Asia?
The indices offer a trusted benchmark that complies with regional regulatory standards, making it easier and safer for investors to gain exposure to leading cryptocurrencies through familiar financial products.
Are there plans to add more cryptocurrencies to the index series?
While the initial launch includes only Bitcoin and Ethereum, the partnership may expand to include other digital assets based on market demand and regulatory developments.
How are the indices calculated?
The indices use high-quality, real-time data aggregated and validated by CryptoCompare, ensuring accuracy and reliability in line with global institutional standards.