Crypto Wealth Manager Onramp Taps CoinDesk Indices to Create Customized Portfolios

The partnership will provide advisers with a wider range of options for shaping successful portfolios.

AccessTimeIconApr 19, 2023 at 1:00 p.m. UTC
Updated May 9, 2023 at 4:12 a.m. UTC

Digital assets wealth management company, Onramp Invest, has joined CoinDesk subsidiary CoinDesk Indices (CDI) to provide financial advisers with better tools for creating and customizing portfolios.

Financial advisers will be able to use Onramp's marketplace to access CDI's indices, giving them a range of options for clients’ with different preferences and tolerance for risk, according to a press release. "Pairing CoinDesk Indices’ market intelligence with Onramp’s flexibility and access provides advisors with unparalleled growth opportunities for clients,” said Eric Ervin, CEO of Onramp Invest, in the statement.

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  • CoinDesk Market Select Index (CMIS), CoinDesk DeFi Select Index (DFX) and CoinDesk Currency Select Index (CCYS) will be available on Onramp's platform. These indices are built on CoinDesk Indices' Digital Asset Classification Standard (DACS) and designed to measure the market capitalization weighted performance of some of the largest, most liquid digital assets, according to the press release.

    As more traditional finance (TradFi) firms are pushing into crypto, financial advisers have been looking to provide more customizable, sophisticated products to track markets.

    “CDI's rules-based methodology for our indices is robust and comprehensive, which we believe provides a real value add,” Andy Baehr, managing director at CoinDesk Indices, said, adding: "Advisers using Onramp’s Marketplace will be able to use CDI indices as building blocks for developing customized solutions for their clients."

    Onramp, which aims to connect traditional finance players with digital assets, raised $7 million in a Series A funding round last year, led by JAM Fintop and EJF Capital.

    CoinDesk is a subsidiary of Digital Currency Group.

    Edited by James Rubin.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Aoyon Ashraf

    Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets