MV Index Solutions (MVIS) and leading digital asset data provider CryptoCompare are powering a new cryptoasset index - the NRI/IU Crypto-Asset Index” - which is designed for institutional investors in Japan.
According to a press release, the index is the result of a collaboration between MVIS and Intelligence Unit (IU), a global provider of quantitative research and development for cryptocurrency investment solutions, with the Nomura Research Institute (NRI), a leading provider of consulting services and system solutions.
The NRI/IU Crypto-Asset Index is reportedly the first cryptoasset benchmark for institutional investors in Japan and offers Japanese financial instructions and global investors an investment solution for the cryptocurrency space.
Providing investors a reference point to evaluate the performance of various cryptocurrency through transparent benchmarks, it includes the following cryptocurrencies: bitcoin, bitcoin cash, ether, litecoin, and XRP. Akihiro Niimi, CEO of Intelligence Unit, noted in the press release demand from institutions has been helping cryptoasset funds grow:
Strong demand from institutional investors is contributing to the growth of crypto-asset funds, and well-diversified products like index funds are attractive as alternative investments. We will bridge the traditional financial world and the crypto-asset world by providing institutional grade crypto-asset benchmarks, further establishing the status of crypto-assets as alternative investments.
Thomas Kettner, MVIS’ managing director, said the firm is happy to offer its services in the Japanese market, while CryptoCompare’s co-founder and CEO Charles Hayter said the firm is excited to “offer institutional investors in Japan the first crypto-asset investible index.”
As CryptoGlobe recently reported, cryptoasset manager Grayscale Investments has had a record-breaking 2019, with inflows of $600 million. In its investment report, Grayscale revealed 71% of its investors were institutions like hedge funds, and that 24% of the $600 million came from new investors.
A survey conducted by Greenwich Associates for Fidelity Investments last year revealed 47% of institutional investors believe cryptocurrencies are worth investing in.