Bloomberg Terminal Embraces Cryptocurrency with Huobi’s Index Inclusion

Introducing the New Crypto Index on Bloomberg Terminal

In a bold move to integrate the world of cryptocurrencies into traditional finance, Bloomberg Terminal has announced the addition of Huobi’s Cryptocurrency Index. This development, shared through a press release on June 21, signifies a pivotal shift for both platforms.

A Closer Look at Huobi’s Cryptocurrency Index

The Huobi 10 Index is not your average index; it’s carefully crafted by the Huobi Group using asset classification and a weighted average method to keep tabs on the top 10 traded digital assets on their exchange. You could say it’s like a VIP list for the best-performing cryptocurrencies.

Key Crypto Trading Pairs

Aside from the index, Bloomberg Terminal will also feature prices for nine crypto trading pairs, all denominated in Tether (USDT). These include heavyweights like:

• Bitcoin (BTC)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Ethereum Classic (ETC)
• Ripple (XRP)
• Dash
• EOS
• ZCash

This major list confirms that Bloomberg is serious about including cryptocurrencies in their financial services.

Market Impact and Expert Insights

Cheng Huixin, an Associate to the CEO of Huobi Group, noted that this index reflects the overall market trend, suggesting that index investments can offer a diversified approach to mitigating investment risks. In layman’s terms, it’s like ordering a salad instead of fries – healthier for your portfolio!

The State of Huobi Exchange

Currently ranking as the third largest exchange in terms of daily trading volume, Huobi has seen an impressive $517 million in trades over the past 24 hours alone, keeping it firmly in the spotlight of the crypto world.

Paving the Way for Crypto Acceptance

Earlier this year, Bloomberg also partnered with Galaxy Digital Management to introduce the Bloomberg Galaxy Crypto Index (BGCI), tracking the top ten most liquid cryptocurrencies. It’s almost like Bloomberg has its hands full with all things crypto!

Huobi’s Expansion Plans

In addition to their index triumph, Huobi is making waves in the U.S. market with its new cryptocurrency trading platform through a company based in San Francisco called HBUS. They’re not stopping there; they’ve also announced their own public blockchain, the Huobi Chain Project (HCP), with a whopping $100 million development fund backing it up. A whole new dimension in the crypto adventure!

The Future of Cryptocurrency on Traditional Platforms

As Huobi’s index gains traction on Bloomberg Terminal, we might just be witnessing the further acceptance of cryptocurrencies in the traditional financial marketplace. With traditional firms embracing digital currency, the road ahead seems primed for innovation and diverse investment opportunities.