Cryptocurrency analytics company Coin Metrics acquires Bletchley Indexes

Cryptocurrency analytics firm Coin Metrics has announced the acquisition of Bletchley Indexes, a crypto-asset index provider.

Founded in 2017, Coin Metrics is an open-source project that provides actionable and transparent network data on cryptocurrencies.

In its announcement dated June 07, the company said that Bletchley Indexes will be rebranded to Coin Metrics Bletchley Indexes (CMBI), adding that the indexes will be launched in the coming months.

It explained that CMBI will use Coin Metric’s network and market data while retaining Bletchley Indexes’ historical data and proven index methodology where appropriate. The first CMBI indexes that will be rolled out will be market capitalization weighted and provide coverage of the top crypto assets, categorized by size and sector – currency, platform, application.

“The CMBI indexes will follow both Coin Metrics’ and Bletchley Indexes’ rigorous design philosophy and quality standards to provide investors with independent and unbiased trackable and investable indexes,” Tim Rice, Coin Metrics CEO, explained.

Coin Metrics also revealed the plans for “smart beta” indexes which are constructed using alternative index rules as compared to traditional market capitalization-based indexes.

“Following the relaunch, CMBI will leverage Coin Metrics’ on-chain and market data expertise to expand the family of indexes to include such smart beta indexes based on key network metrics,” the blog post reads.

As part of this acquisition, Bletchley Indexes founders will remain as advisors to Coin Metrics.

Last month, Nasdaq launched index for Ripple’s native token, XRP, to its global data service, which followed the launch of the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) in February.

In March, CoinMarketCap announced the launch of its benchmark cryptocurrency indices on NASDAQ GIDS, Bloomberg Terminals, Thomson Reuters Eikon (Refinitiv), and Börse Stuttgart.