announced Galaxy Digital, a US-based financial services and investment management company, in cooperation with Bloomberg, has launched an index that tracks the decentralized finance market under the name “Bloomberg Galaxy DeFi.”

According to a Bloomberg statement, the partnership is seeking to expand the private crypto offering to meet the growing demand for decentralized financial products.

In an official announcement, Bloomberg explained that the Galaxy Fund Management is now offering the Galaxy DeFi Fund.

The newly launched benchmark and index are owned and operated by Bloomberg Index Services Limited and co-branded with Galaxy.

The decentralized finance “DeFi” sector experienced tremendous growth in the first half of 2021.

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Leading decentralized finance assets such as UNI, AAVE, MKR, and COMP have seen significant gains since the start of 2021.

The “Bloomberg Galaxy DeFi” index is designed to track the performance of the largest decentralized finance coins by market capitalization.

Alan Campbell, Head of Product Management at Bloomberg’s Multi-Asset Index, said:

Decentralized finance is growing as a major trend in the cryptocurrency arena.

As institutional liquidity and custodian solutions continue to grow, DeFi is an increasingly compelling option for institutional investors, and we will continue to work with Galaxy to expand our crypto offering.

An indicator to track the performance of the DeFi market:

According to Bloomberg, Uniswap accounts for nearly 40% of the index’s weight.

Projects like AAVE account for 18%, followed by Maker with 12.7%.

In addition, the index includes other leading DeFi assets such as COMP, YFI, SNX, SushiSwap, ZXR and UMA.

Steve Kors, Partner and Head of Asset Management, Galaxy Digital, said:

Galaxy continues to lead organizations seeking to learn about the innovation that occurs within the crypto ecosystem.

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The blockchain-based infrastructure behind DeFi is maturing at an accelerating rate, and clear examples are emerging of how this new technology is taking financial services to the next level.

This partnership with Bloomberg and the DeFi Index Fund provides investors with data and tools that provide calculated exposure to the future of financial services.

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