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.
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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.