Bullish Exchange Launches CoinDesk 20 Index Perpetual Futures Trading
CoinDesk Indices, a subsidiary of CoinDesk and the leading provider of digital asset indices by AUM since 2014, introduced the CoinDesk 20 Index, a fully investable index that measures the performance of the top digital assets. The CoinDesk 20 serves as a diversified and trusted benchmark for the growing global crypto economy.
Concurrent with the launch, Bullish, one of the fastest-growing regulated digital assets exchanges, has listed a new perpetual futures contract of the CoinDesk 20 Index (CD20/USDC-PERP), currently trading. Bullish executes on average $1 billion of trades each day and since its launch in November 2021, has surpassed over $375 billion in total trading volume.
“As a firm dedicated to delivering leading digital asset indices and research, we are thrilled to unveil the CoinDesk 20 Index—a tradable unit of exposure for digital assets,” said Alan Campbell, President of CoinDesk Indices. “The marketplace needs a diversified benchmark for analysis and financial products. We are delighted the CoinDesk 20 is already generating liquidity at the institutional level.”
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Unique features of the CoinDesk 20 include:
- Trading and liquidity requirements that support product implementation at scale.
- The CoinDesk 20 is market-capitalization-weighted with a 30% cap on the largest member (currently Bitcoin) and a 20% cap on all other members (currently capping Ether) to improve diversification.
- The index excludes stablecoins, includes memecoins, and captures over 90% of the digital asset market capitalization.1
- The CoinDesk 20 is a subset of the CoinDesk Market Index (CMI) which is drawn from the Digital Asset Classification Standard (DACS) universe.
- The index is updated every five seconds and reconstituted and rebalanced quarterly following a robust and transparent governance framework.
“CoinDesk Indices holds the longest digital asset index track record and underlies approximately $40 billion of AUM in investment vehicles. As the digital asset marketplace develops as an asset class, it needs an accessible, tradeable, and trusted reference, and I believe the CoinDesk 20 is that reference,” said Tom Farley, CEO of Bullish. “We are excited to offer the CoinDesk 20 Index perpetual futures contract to the market.”
The introduction of CoinDesk 20 perpetual futures on Bullish quickly follows Bitcoin and Ether perpetual futures. It also marks the industry’s first multi-token benchmark digital asset index that has immediate synthetic liquidity and trading volume through perpetual futures.
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