Bloomberg announced on Thursday that it has expanded its data coverage on the Bloomberg Terminal, which will now include 50 cryptocurrencies.
Users of its professional terminal will be able to see data on bitcoin (BTC), ether (ETH), binance coin (BNB) and solana (SOL), among others, according to the announcement. This will enable clients to access and monitor intraday pricing for crypto, indices and futures contracts in real-time.
Cryptocurrency prices were first added to the terminal — a ubiquitous fixture on the desks of Wall Street traders — in 2013 with the introduction of bitcoin. The offering was expanded to 10 cryptocurrencies in 2018 and has now jumped to 50.
According to its announcement, the company vets potential assets to be added to the terminal based on the following assessments: institutional custody support, trading access, market capitalization and consistency of turnover.
As the crypto space matures and more institutional investors actively develop investment strategies involving crypto, the demand for reliable and verifiable data on the nascent space has risen.
Alex Wenham, product manager for cryptocurrencies at Bloomberg, said the company aims to support institutions around the world to incorporate digital assets into their workflows. Before going on to say that “as this market develops, we will continue to evolve our data-driven offerings to help our clients define and develop their strategies in this space.”
Bloomberg competes with The Block to provide news and information on crypto markets.