Bloomberg and Galaxy Digital have introduced a new index focusing on the digital asset Solana to their array of crypto data products.
According to a post on LinkedIn by Tim Grant, head of Europe for Galaxy, the Bloomberg Galaxy Solana Index is now live on Bloomberg’s Terminal. The index, according to Grant, is denominated in US dollars.
“This is our fifth index in the Bloomberg Galaxy family, which is listed below. Furthermore, the launch of this index is significant because it is the first institutional-grade pricing source for Solana, allowing for registered Solana-based products in jurisdictions that require a worldwide pricing source, “Grant stated.
Galaxy and Bloomberg have been working together on indexes since 2018. In August, the two companies launched a decentralized finance index or DeFi. These indices are used to route pricing data for usage in financial products
According to CoinGecko data, Solana is now trading at around $241.