“By leveraging our institutional expertise as custodians, we’re excited to partner with CoinDesk Indices and provide our customer base with access to the top digital assets within the CoinDesk 20 Index, as investors seek to increase exposure to digital assets beyond Bitcoin.”
BitGo is set to offer custody of the underlying assets that make up the CoinDesk 20 Index through a partnership with CoinDesk Indices.
The CoinDesk 20 Index goes beyond the Bitcoin ETF to provide a more diverse portfolio that tracks the performance of top digital assets, applying a capped market capitalization-weighted methodology to ensure diversification.
“Measure, trade, invest, and stake in the growing digital asset class”
After generating institutional demand with approximately $5 billion in perpetual futures volume since January 2024, the CoinDesk 20 Index may well get further attention as the crypto market continues its new bull run, with Bitcoin leading the way just shy of the $70,000 mark.
The CoinDesk 20 perpetual futures contract was introduced by digital asset exchange Bullish after the original CoinDesk 20 being launched earlier this year.
Adam Sporn, Head of Prime Brokerage and U.S. Institutional Sales, BitGo, said: “We have seen demand for accessing a turnkey broad-based digital asset solution. By leveraging our institutional expertise as custodians, we’re excited to partner with CoinDesk Indices and provide our customer base with access to the top digital assets within the CoinDesk 20 Index, as investors seek to increase exposure to digital assets beyond Bitcoin.”
Alan Campbell, President of CoinDesk Indices, commented: “Recognizing institutional investors are increasingly interested in accessing the broader market, the CoinDesk 20 was constructed to support the largest and most traded financial products. We are thrilled to partner with a market leader like BitGo to enable access to the CoinDesk 20, a seamless way to measure, trade, invest, and stake in the growing digital asset class.”
CoinDesk Indices is a subsidiary of Bullish, which took 100% ownership of CoinDesk in an all-cash transaction. The deal followed a failed acquisition bid in 2023 by a consortium led by investor Matthew Roszak, which valued the company at $125 million.
CoinDesk executive reshuffle after Bullish buyout
Kevin Worth, the long-serving CEO of CoinDesk, has stepped down as part of a major restructuring by the media, events, and information company’s new owner. Sara Stratoberdha, previously in charge of business development for cryptocurrency exchange Bullish, took over the leadership role at CoinDesk.
The restructuring impacted several key positions within CoinDesk. Departures include Elinor Hirschhorn, the Chief Operating Officer and President of Media; John DeGuenther, Vice President of Engineering; and Emily Parker, Executive Director of Global Strategy.
Bullish CEO Tom Farley announced the organizational changes in a memo to CoinDesk and Bullish employees. He outlined plans for a flatter organizational structure and integration of certain CoinDesk functions, such as Human Resources, with their Bullish counterparts. The tech and product teams of CoinDesk are also set to be integrated with those at Bullish.
