Nonco, an institutional crypto trading firm, today announced a collaboration with CoinDesk Indices, a leading provider of digital asset indices since 2014, to provide access to OTC-based spot and derivatives execution on the CoinDesk 20 Index to institutions in Latin America.
Launched in January 2024, the CoinDesk 20 Index addresses the growing demand from institutional investors for more diverse portfolio options beyond bitcoin ETFs. The CoinDesk 20 is a broad-based index that tracks the performance of top digital assets, applying a capped market capitalization weighted methodology to ensure diversification. Designed for scalability, CoinDesk 20 has already been adopted by leading market-making firms and global market participants.
Nonco will now offer liquidity to counterparts on a wide range of products leveraging the CoinDesk 20 Index. This includes:
- Direct access to the index, enabling spot exposure to the diversified basket of leading digital assets.
- Liquidity to CoinDesk 20 through swaps, contracts for difference (CFDs), and perpetual futures. This will allow our counterparts to engage in derivative strategies tailored to their market views and risk appetite.
- Bespoke products that are custom-designed to meet the unique needs of institutional counterparts, offering flexibility in structuring trades across varying timeframes, currencies, and risk profiles.
This comprehensive suite of services enables our counterparts to efficiently manage market exposure and enhance portfolio performance leveraging CoinDesk 20 and its constituents.
“Indices are widely used in the financial industry both as benchmarks and as references to be followed in investment products. It is well-known that passive management benefits from reduced costs, greater transparency in the investment methodology, and a lower risk of decisions being made by fund managers. Since this is still a relatively new asset class, reference indices, including those composed of multiple assets, tend to be a valuable tool for managers who seek to partner with a knowledgeable market player to simplify the complexities of allocation decisions, ultimately providing investors with a product that is, in a way, aligned with the digital assets market. Based on our experience, the CoinDesk 20 brings an important complement to the industry for managers with products oriented towards this market. Having the index as a reference to be followed in spot or even derivative products is something we see as valuable, and we are engaged to enable services and solutions associated with the index,” said Guilherme Rebane, Partner, Head of Brazil at Nonco.
Led by industry veterans, Nonco is a digital asset trading firm that serves institutional counterparties. Nonco prioritizes the needs of the market by leveraging cutting-edge technology, innovation, and exceptional service. They operate 40% of the BTC & ETH ETF US volume and 80% of the HK volume.
“The CoinDesk 20 was designed to meet institutional investors’ growing demand to benchmark, invest and trade in the digital asset landscape,” said Alan Campbell, President of CoinDesk Indices. “We’re pleased Nonco has enabled access to a variety of investment vehicles for institutions, allowing for diversified exposure beyond bitcoin and ether.”
Following CoinDesk 20’s launch earlier this year, Bullish—the fastest-growing regulated digital asset exchange—launched a new perpetual futures (perp) contract on the index, marking an industry first. The CoinDesk 20 perp has attracted substantial institutional interest, driving a trading volume of approximately $7.5 billion since launch.
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