Nomura Research Institute To Roll Out First Crypto Index In Japan With Intelligence Unit
Nomura Research Institute (NRI), one of the largest consulting firms in Japan recently got into a partnership with Intelligence Unit (IU), a crypto investment solutions provider to introduce a tradeable crypto index.
A press release that was sent to news publications on 29th of January 2020 indicated that the name of the new index would be NRI/IO Crypto Asset Index. The statement goes on to read that this index has been developed for use by institutions in the financial sector.
It is expected that the index will also be drawing information from CryptoCompare, the cryptocurrency data platform, as well as from MVIS, the crypto index platform.
On its dedicated website, the two companies have stated that this index is intended to cover all aspects of the crypto market. However, all cryptocurrencies will be tracked using only two currencies: The Japanese Yen and the United States Dollar.
This index was particularly designed with the institutional investors based in Japan in mind. It also paid consideration to custody solutions and local availability.
Tradeable Index with the Ability to Track the Five Leading Cryptocurrencies
On release, the NRI/IO Cryptocurrency Asset Index will be rebalanced on a month-to-month basis. It will be tradeable in yens and dollars and will be in a position to track the performance of crypto assets that will already have been pre-determined. The crypto assets expected to trade on the NRI platform will include XRP, LTC, ETH, BCH, and BTC. Akihiro Niimi, the IU CEO commented on this index and stated that:
“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.”
The website has displayed backtested performance statistics which state that the year-to-date performance stands at thirty-three point nine one percent, while the 1-year performance stands at a hundred and four-point eight-six percent, with the 3-year return being 2,211.26 percent.
NRI happens to be a Nomura holdings affiliate, the Japanese financial services giant. Nomura holdings have wholly embraced blockchain technology and have already started to offer crypto-related services.