Evolve launches Evolve XRP ETF (XRP, XRP.U), expands Evolve Cryptocurrencies ETF (ETC), all powered by regulated CF Benchmarks indices
Evolve expands its suite of crypto products with one of the first North American XRP ETFs, while adding XRP to its unique crypto portfolio ETF.
CF Benchmarks
3iQ launches 3iQ XRP ETF (tickers: XRPQ, XRPQ.U), powered by CF Benchmarks’ regulated XRPUSD_NY index
The ETF is now trading on the Toronto Stock Exchange (TSX) under the ticker XRPQ, for the Canadian dollar-denominated pricing series, and XRPQ.U, for the U.S. dollar-denominated pricing series.
CF Benchmarks
CF Benchmarks Newsletter Issue 84
The SEC’s broader signaling on crypto investment products - meaning chiefly ETFs - throughout the half year, has been a reminder of its more customary cautious footing.
Ken Odeluga
Suitcoiners
Bitcoin’s volatility is falling just as institutional demand surges, led by BlackRock’s IBIT ETF using CF Benchmarks' BRRNY. As “suitcoiners” seek digital gold over tech risk, flows into Bitcoin ETFs now rival—and even reverse—those of traditional gold funds.
CF Benchmarks
CF Benchmarks Newsletter Issue 83
BlackRock's IBIT marks another month of record inflows; with record-low volatility. We launch more regulated staking benchmarks, this time for Aptos. And get a summary of our research team's essential primer on XRP.
Ken Odeluga
CF Benchmarks expands CF Staking Series with first regulated APT Staking indices
CF Benchmarks is excited to announce the launch of the CF APT Staking Reward Rate, the CF APT Staked Return Index, and CF APT Staking Blend Baskets.
CF Benchmarks
Crypto Insights Group rolls out key CF Benchmarks portfolio indices to institutional clients
Starting with our CF Institutional Digital Asset Index (IDAX) and CF Large Cap Index, CIG has begun to roll-out access to CFB’s key measures of investible crypto market beta to users of its platform.
CF Benchmarks
CF Benchmarks offers unique regulatory status and global reach after EU decision threatens availability of regulated crypto indices
Institutions entering the digital asset space could soon face a lack of regulated crypto benchmarks following the EU's relaxation of certain licensing requirements
Alise Kane
Risky Assets and Great Escapes
Global risk assets appear to be staging their latest ‘Great Escape’ — a recurring theme in recent years — as markets rebound sharply from early April lows despite lingering geopolitical and macroeconomic uncertainties.
CF Benchmarks
CME announces XRP futures, based on CF Benchmarks' XRPUSD_RR index
We are proud to confirm settlement of CME XRP futures will be based on our regulated CME CF XRP-Dollar Reference Rate (XRPUSD_RR).
CF Benchmarks
Evolve's Sixth Crypto ETF
One of our first ever ETF clients, $7bn-plus AuM Evolve, has also opted to utilize our Solana benchmark methodology, this time integrating the regulated CME CF Solana-Dollar Reference Rate (SOLUSD_RR) into its latest fund, Evolve Solana ETF (tickers: SOLA, SOLA.U).
CF Benchmarks
3iQ launches 3iQ Solana Staking ETF (tickers: SOLQ, SOLQ.U), powered by the regulated SOLUSD_NY index
The 3iQ Solana Staking ETF (tickers: SOLQ, SOLQ.U) marks the latest inflection point for the digital asset class, with one of the first spot-based Solana ETFs to be listed in the North America region.
CF Benchmarks
BlackRock enters Europe's Bitcoin ETP market with IB1T
BlackRock expands its dominant position in the U.S., overseas to Europe with the launch of the iShares Bitcoin ETP listed on Euronext Amsterdam (ticker: BTCN), Euronext Paris (IB1T), and Frankfurt-based Deutsche Boerse’s Xetra (IB1T) on March 25th.
CF Benchmarks
CF Benchmarks Newsletter - Issue 78
Just like for all other CME digital asset products, settlement is based on CF Benchmarks' methodology. In the case of Solana futures, their index is our regulated CME CF Solana Dollar-Reference Rate (SOLUSD_RR).
Ken Odeluga
CME Group launches Solana Futures, based on CF Benchmarks' regulated SOL Reference Rate
We believe CME SOL futures represent the latest inflection point for institutional crypto adoption, as they provide large investors and capital markets participants with new CFTC-regulated tools for risk management and trading in relation to SOL, for the first time.
Ken Odeluga
CF Benchmarks Newsletter - Issue 77
The much anticipated rethink of crypto market and asset oversight appears to be well underway, though geopolitical uncertainty means optimism on the outlook for the asset class hasn't been enough to support prices.
Ken Odeluga
CF Benchmarks launches CF Category indices, for focused exposure to blockchain economic drivers
CF Benchmarks is excited to announce the launch of CF Category indices, the latest additions to our CF Classification Series of thematic portfolio indices, which track the performance of specific blockchain categories within the CF Digital Asset Classification Structure (CF DACS).
Ken Odeluga
CME Group announces Solana Futures powered by our CME CF Solana-Dollar Reference Rate
We are excited to confirm that the leading derivatives marketplace's first SOL-based product will be the latest to settle to a regulated CF Benchmarks Reference Rate.
CF Benchmarks
Hashdex set to launch world's first XRP ETF
The news is intriguing more broadly, with digital asset participants in the U.S. waiting on the edge of their seats to see whether, or when, an XRP ETF might be approved there.
Ken Odeluga
SEC edges closer to key approvals
There are indications the SEC is moving. This might be attributable to the 'Crypto Task Force' announced on January 21st, led by Commissioner Hester Peirce.
Ken Odeluga
Bitcoin Mining Difficulty peaks... as flagged by CF Benchmarks Research
Head of Research Gabe Selby, CFA, and Research Analyst Mark Pilipczuk, gave a clear heads-up, well ahead of network difficulty peaking.
Ken Odeluga
SAB 121 revoke begins Operation Unchoke
SAB 121 was widely assumed to be but one aspect of an unstated cross-agency policy referred to as Operation Chokepoint 2.0. A modern form of unofficial sanction against unfavored industries.
Ken Odeluga
Could 'In-kind' be a Shoo-in?
There are instances where 'in-cash' makes some sense. Crypto isn't one of them.
Ken Odeluga
Waiting for Atkins
Crypto ETFs have become one of the most pivotal on-ramps for bridging participation in mainstream assets with participation in cryptoassets - and for filings, at least, the floodgates have well and truly opened.
Ken Odeluga
Uncorrelated Crypto Factors = Good
The remarkably low correlations in our heat map are excellent news for anyone interested in factor-based approaches to digital asset investing.
Ken Odeluga
That first Trump 2.0 Friday Feeling
One lightening rod for that sentiment seems to be the question of whether or not the newly installed crypto-friendly President will follow through on pledges to establish a Bitcoin Strategic Reserve.
Ken Odeluga
2025 Inflection Points are just beginning
As pivotal as it might turn out to be, a 'regulatory reset' isn't the only significant evolutionary aspect mooted for crypto in 2025.
Ken Odeluga
Why Trump's not to blame for the jump in Bitcoin volatility
This is a great occasion to see the CF Bitcoin Volatility Index (BVX) in action - and get an insight into the typically counterintuitive relationship between spot bitcoin and implied volatility.
Ken Odeluga
BTC buoyed above $100k by ETF and OTC flows
Perhaps inevitably, Bitcoin's tussle with $100,000 – which it's currently winning, according to our CME CF Bitcoin Reference Rate (BRR) - is now commonly regarded as a threshold between 'constructive' short-term sentiment, and a supposedly more bearish outlook for the OG crypto, if below.
Ken Odeluga
It's $Trump (and $Melania) Day
With a total market cap of around $120 billion, meme coins as a whole can no longer be dismissed as entirely frivolous and inconsequential.
Ken Odeluga
Here’s how long we may wait for the new wave of US crypto ETFs
Will the SEC really soften its hardline stance on crypto ETFs as quickly as applicants expect?
Ken Odeluga
CF Benchmarks introduces first Institutional-grade Factor Model for Digital Assets
Debunking the myth of crypto’s Random Walk: our quantitative research shows liquid market returns mirror traditional market dynamics.
CF Benchmarks
CF Benchmarks adds Bullish as Constituent Exchange for the most trusted institutional Bitcoin index, CME CF Bitcoin Reference Rate
CF Benchmarks, the UK FCA-regulated benchmark administrator and the world's largest indices provider for cryptocurrencies, has today announced it is adding market data from Bullish Exchange to its full suite of bitcoin benchmarks.
CF Benchmarks
CF Benchmarks launches the first regulated Solana Staking Reward Rate indices
CF Benchmarks is excited to announce that the latest regulated benchmarks to be added to our CF Staking Series are the first institutional-grade indices of Solana staking rewards.
Ken Odeluga
CF Benchmarks Newsletter - Issue 74
Whilst the outcome of the US election may have been a surprise for some, the follow-on reaction by ‘risky’ assets broadly, including the digital class, was well within the range of widely trailed expectations.
Ken Odeluga
Five reasons to catch Weekly Index Highlights every Monday
Our Weekly Index Highlights series is designed to provide quick insights into crypto market events of the past week. Here’s a detailed look at what the series offers.
Ken Odeluga
CF Benchmarks Newsletter - Issue 71
Inevitably, cross-market attention has been fixated on Federal Reserve policy probabilities and implications in recent weeks, leaving large cap crypto, like most other risk assets, in a proto funk in the run-up to the decision.
Ken Odeluga
CF Benchmarks Newsletter - Issue 70
Following the transitional events for crypto of the year so far, institutionalisation has continued to cogently evolve, with a view to further fill out the infrastructure one would expect to see for any emerging asset or financial product class.
Ken Odeluga
CF Benchmarks Newsletter - Issue 69
The top end of new Ether funds, represented by BlackRock’s iShares Ethereum Trust ETF (ETHA), and Bitwise’s Ethereum ETF (ETHW), comfortably join the echelons of ETFs evincing a faster-than-historical-average pace of asset gathering.
Ken Odeluga
CF Benchmarks Newsletter - Issue 68 - Ether ETF Launch Edition
Despite the slower start of the second crypto asset to reach Wall Street, even Ether's more modest indicative fund distribution profile suggests the most pessimistic expectations on flows may prove to be undercooked.
Ken Odeluga
CFB Talks Digital Assets Episode 29: The Ether Investment Case and what the ETF approvals say about regulatory changes, with Sui Chung
Spot Ether ETFs are finally here! Just like for Bitcoin ETFs though, the path to approval has been full of suspense and drama.
Ken Odeluga
CF Benchmarks-supported Spot Ether ETFs set to go Live
For CF Benchmarks, of course, this second inflection point for digital asset adoption within six months is - again - all the more consequential because of the swathe of high profile issuers opting to use another of our regulated benchmarks for NAV calculation.
Ken Odeluga
CF Benchmarks Newsletter - Issue 67
The ‘main case’ remains, from our perspective, that Ether ETFs are on track for full approval and listing – relatively imminently.
Ken Odeluga
SEC cites CF Benchmarks in ETH ETF Pivot
This is an unprecedented acknowledgement of the veracity of our regulated benchmark methodology and the safeguards we’ve incorporated into it, to ensure the reliability, accuracy and market integrity of our pricing benchmarks.
Ken Odeluga
ETC Group’s unique ‘Tri-NAV’ ETP is underpinned by CF Benchmarks’ regulated Bitcoin Methodology
ETC Group Core Bitcoin ETP (BTC1). is underpinned by CF Benchmarks’ Bitcoin pricing methodology, deploying all three variants of our flagship CME CF Bitcoin Reference Rate (BRR) in one product simultaneously, for the first time.
Ken Odeluga
Hong Kong's first spot Bitcoin and Ether ETFs are powered by regulated CF Benchmarks indices
CF Benchmarks is excited to confirm that all successful HK Bitcoin and Ether ETF applicants are those opting to strike net asset value (NAV) with variants of our flagship Bitcoin and Ether benchmarks respectively.
Ken Odeluga
CF Benchmarks launches CF Bitcoin Volatility Index, first direct measure of CME Bitcoin implied volatility
Responding to the need for a singular, comprehensive gauge of volatility, based solely on the CME’s CFTC-regulated Bitcoin options market CF Benchmarks is launching the CF Bitcoin Volatility Index, the first comprehensive benchmark of CME Bitcoin Options implied volatility.
Ken Odeluga
CF Benchmarks submits Comment Letters to the SEC in support of spot Ether ETF filings
CF Benchmarks is again uniquely positioned to define cogent regulatory grounds for Ethereum to be made accessible to the investing public within exchange traded funds.
Ken Odeluga
CF Benchmarks Newsletter - Issue 64
Even a cursory examination of volume and flow data shuts down suggestions that the establishment of this new investment product class happened with anything short of demand that was quantifiably above historical norms. (AKA, it was a crushing success.)
Ken Odeluga
New Era of Investing Starts Today, with Six CF Benchmarks-powered Spot Bitcoin ETFs
The six spot bitcoin ETFs that strike NAV against our CME CF Bitcoin Reference Rate – New York Variant, begin trading today!
Ken Odeluga
CF Benchmarks launches the regulated CF ETH Staking Reward Rate
As a regulated benchmark under the UK Benchmarks Regulation (BMR) framework, compatible with the EU BMR, the CF ETH Staking Reward Rate is designed to promote replicability, representativeness and manipulation resistance, for financial product providers engaging in non-custodial staking.
Ken Odeluga
CF Benchmarks Launches Institutional-Standard GameFi Index, as Play-to-Earn Sector Shines
The launch of the CF Meta Lab GameFi Index is the first step in the process of creating potential investment products, like funds, trusts and ETFs, that offer exposure to GameFi for investors in Hong Kong and the wider APAC region.
Ken Odeluga
CF Rolling CME Futures Index Series expands, with launch of Bitcoin Ether Basket
The CF Rolling CME Bitcoin Ether Basket Futures Index enables institutional investors to access both bitcoin and ether exposure simultaneously, with an entirely hands-off strategy
Ken Odeluga
CFB Talks Digital Assets Podcasts Launches on New Audio Platforms
CFB Talks Digital Assets now on Spotify, Apple Podcasts and Google Podcasts. Read more
Jon Zeffert
CF Benchmarks Newsletter - Issue 63
'Liquidity drought’ or not, large institutions have embarked on a wave of plans to install the infrastructure for the mass adoption they’re clearly convinced is just downwind.
Ken Odeluga
CF Benchmarks Newsletter - Issue 62
Although PayPal’s move is widely recognized as a potentially important inflection point for broad-scale adoption, for more informed digital asset participants, it’s seen as somewhat less remarkable, in context.
Ken Odeluga
CF Benchmarks Newsletter - Issue 61
CF Benchmarks’ transparent, regulated Benchmark Methodologies and governance policies, are as rules-based for our DeFi benchmarks, as they are for all of our other indices.
Ken Odeluga
CF Benchmarks Newsletter - Issue 60
Record open interest in CME crypto contracts both BTC and ETH, futures and options...argue against the notion of retreating participation.
Ken Odeluga
CF Benchmarks Newsletter - Issue 59
Among on-chain metrics, Bitcoin’s hashrate stands out as continuing to relay the robustness of demand for the network’s functionality and by default, adoption.
Ken Odeluga
Keeping track of U.S. Bitcoin ETF applications - 2023 Edition
The commission will demonstrate its preference for the greatest possible visibility into the market participation of the Bitcoin ETF that is ultimately approved for listing
Ken Odeluga
FalconX launches Suite of Institutional Crypto Derivatives Powered by CF Benchmarks
By offering a suite of benchmarked derivatives contracts, FalconX and CF Benchmarks are addressing the growing demand for secure and transparent investment products in the rapidly expanding digital asset space.
CF Benchmarks
CF Benchmarks Newsletter - Issue 58
Outsize attention on the ambivalent Ripple ruling largely eclipsed important crypto ETF developments.
Ken Odeluga
CME's new ETH/BTC Ratio is a future whose time has come
Just like all other CME cryptocurrency derivative contracts, ETH/BTC Futures are secured by the end-to-end regulation inherent in the CME’s CFTC-regulated trading venue, and CFB’s regulated benchmark methodology.
Ken Odeluga
CF Benchmarks Newsletter - Issue 57
Bitcoin ETF applicants citing the CME CF Bitcoin Reference Rate – New York Variant (BRRNY) for NAV calculation, have a built in additional dimension of surveillance sharing.
Ken Odeluga
CF Benchmarks Newsletter - Issue 56
Whilst it's clear that the first U.S.-listed spot Bitcoin ETF will include a Surveillance Sharing Agreement, that fund is also likely to be one that includes a regulated CF Benchmarks index as its NAV-calculation price
Ken Odeluga
CF Benchmarks Newsletter - Issue 55
BlackRock’s iShares Bitcoin ETF Trust filing (citing our regulated CME CF Bitcoin Reference Rate - New York Variant for NAV-calculation) offers additional colour to the resurgent spate of similar applications in its wake.
Ken Odeluga
CF Benchmarks Newsletter - Issue 54
Now, we’ve seen perhaps the ultimate institutional adoption moment that’s counter to the ‘crypto winter’ narrative.
Ken Odeluga
BlackRock’s CFB-powered Bitcoin ETF filing is a vote of confidence
The timing of the filing, on the back of well-aired events of the past week—and in the context of crypto price and counterparty upsets of last year—is as eloquent as gestures like this get.
Ken Odeluga
CF Benchmarks Newsletter - Issue 53
In fact, from CF Benchmarks’ perspective as an FCA regulated Benchmark Administrator, the most salient points to make in response are actually separate from and pre-exist this week's developments considerably.
Ken Odeluga
CF Benchmarks Recap - Issue 52
With retail activity—markets-wise, and, anecdotally, adoption-wise, still on the back foot in the wake of that late-2022 perfect storm, institutions are now more easily observable at the forefront of participation.
Ken Odeluga
Happy Bitcoin Pizza Day!
Why you may ask? Well, it's because today marks the thirteenth anniversary of the first documented time someone used Bitcoin to purchase physical goods.
Jon Zeffert
The CF Bitcoin Interest Rate Curve 'Reality Check'
Bitcoin rate market participants can now examine and analyze CF BIRC term rate curves—session, 1-week, 2-week, one-month, etc.—in isolation or collectively
Ken Odeluga
The CFB index behind BlackRock’s Bitcoin Private Trust
The availability of a choice of bitcoin indices published by CF Benchmarks, a tried and tested (and regulated) cryptocurrency Benchmark Administrator, undoubtedly helped give BlackRock the confidence to begin offering spot bitcoin exposure to institutional clients.
Ken Odeluga
Expansion of the CME CF Cryptocurrency Pricing Products Family to include 3 new Digital Assets
The Administrator hereby announces the addition of the below 3 cryptocurrency reference rates and real-time indices to the CME CF Cryptocurrency Pricing Products Family: * Avalanche (AVAX) * Filecoin (FIL) * Tezos (XTZ) Each reference rate will publish the U.S. dollar price of each digital asset once a day at 16:00 London time. Each respective real-time index price will be published once per second, 24 hours a day, 365 days per year. Publication of these reference rates and real-time indic
CF Benchmarks
We need to talk about crypto oracles
An attacker would have to put such an exponentially high amount of capital at risk to move a CF Benchmarks MNGO RTI as to make the economics of the manipulation absurd.
Ken Odeluga
Why CME CF BRR and Coindesk XBX are far from "nearly identical"
During the course of the analysis as to the rights and wrongs of the SEC's decision, an assertion has been made that we believe needs to be corrected. Namely that the Coindesk XBX and the CME CF BRR are "nearly identical". They are not.
Sui Chung
Why there won’t be a regulated ETH Proof of Work Benchmark
In accordance with CF Benchmarks’ Hard Fork Policy, ETHW’s hard fork is not material.
Ken Odeluga
CF Benchmarks launches CF Bitcoin Interest Rate Curve
The CF Bitcoin Interest Rate Curve (CF BIRC), the first index of its kind published by CF Benchmarks, measures the underlying economic reality of Bitcoin borrowing and lending, whether on an outright basis or an implied basis in tradeable instruments.
Ken Odeluga
CF Benchmarks passes independent Deloitte audit for second time
Achieving this independent kitemark for the second time is further objective corroboration of CF Benchmarks’ transparency, the soundness of our operational processes, as well as the integrity of our Benchmark Methodology.
CF Benchmarks
Ether Options settling to CME CF ETHUSD_RR launched by CME
Ether options began trading on CME yesterday led by a block trade between Genesis and Cumberland. As the Ethereum merge approaches the opportunity for investors to hedge price risk for Ether (ETH) through CFTC regulated, centrally cleared options contracts will be invaluable. The launch of Ether options further extends the suite of instruments that investors and product providers can utilise to create differing pay-off structures, an invaluable tool as investors seek to integrate digital assets
CF Benchmarks
Pre-Merge Dynamics Rippling Through Markets
The world's most popular programmable blockchain is set for a major upgrade this week: the Ethereum blockchain will switch over its process for executing transactions and mining to a Proof-of-Stake (PoS) consensus mechanism. This change may seem to be superficial at first glance, but it has so far had a profound impact on crypto markets. Firstly, we have seen ETH dominate its competitors since the Ethereum Foundation publicly announced their planned 'Merge' timeline in mid-July. So-called ETH K
Gabriel Selby
CFB Portfolio Indices - Ethereum Merge
The Ethereum Merge fork event that will transition Ethereum from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus, is set to take place in the coming days. The majority of Constituent Exchanges have confirmed that the Ethereum PoS chain will retain the ETH ticker after the Merge, with no anticipated disruptions to trading at or around the time of the Merge. Therefore, there will be no change to the underlying markets observed by the CME CF Ether- Dollar Reference Rate, which is a constitue
CF Benchmarks
BlackRock’s Bitcoin Private Trust points to Public Crypto Good
Regardless of the short-term market and industry reaction, this watershed news will almost certainly turn out to be a critical juncture for the development of the institutional digital asset space that CF Benchmarks addresses.
Ken Odeluga
CF Benchmarks launches CF Rolling CME Bitcoin Futures Index
The index is able to negate the effects of roll yield significantly, providing strong replication of the physical bitcoin price and mitigating any operational risks in the replication process.
CF Benchmarks
Why the London Market Close is the best time to strike NAV for new Aussie Crypto ETFs
CF Benchmarks has leveraged its unique position as administrator of the most liquid, established and trusted, regulated Bitcoin benchmark, CME CF Bitcoin Reference Rate (BRR), to determine the optimal time to strike NAV for Aussie Bitcoin ETFs.
Ken Odeluga
Global Crypto ETP Market: State of Play
For those new to this sector, it’s also important to note that a significant proportion of crypto ETP providers have opted to utilise CF Benchmarks’ tried and trusted (and FCA-regulated) Benchmark Methodology to underpin reference and NAV calculation prices
Ken Odeluga
Expansion of the CME CF Cryptocurrency Pricing Products Family to include 11 new Digital Assets
CF Benchmarks, the leading provider of cryptocurrency benchmark indices announces the launch of 11 new cryptocurrency reference rates and real-time indices to the CME CF Cryptocurency Pricing Products, which will be calculated and published daily beginning April 25 and give benchmark index pricing for the below assets: * Algorand (ALGO) * Bitcoin Cash (BCH) * Cardano (ADA) * Chainlink (LINK) * Cosmos (ATOM) * Litecoin (LTC) * Polkadot (DOT) * Polygon (MATIC) * Solana (SOL) * Stellar L
CF Benchmarks
CF Benchmarks adds LMAX Digital as Constituent Exchange for CME CF Bitcoin Reference Rate, and CME CF Ether-Dollar Reference Rate
LMAX Digital will provide market data to six regulated crypto indices, calculated and administered by CF Benchmarks
CF Benchmarks
Hashdex to launch world's first pure-play Web 3.0 ETF, WEB311, powered by CF Web 3.0 Smart Contract Platforms Index
The CF Web 3.0 Smart Contract Platforms Index is a liquid, investible benchmark portfolio index that tracks the return performance of smart contract platforms within the digital asset space
CF Benchmarks
A Compliant Bridge to the Web3 Future: CF Benchmarks Q&A with DIA
With the bridging of DIA’s Web3 tech infrastructure and CF Benchmarks’ deep experience in regulated price feeds, developers gain the advantage of a more secure, compliant and resilient price feed
Ken Odeluga
DIA and CF Benchmarks make compliant digital asset indices available as oracles to the Web3 economy
We are confident that this partnership will be a significant step towards enabling the high-integrity pricing that will be critical for mass adoption of DeFi, Web3 and beyond
CF Benchmarks
CF Benchmarks launches Settlement Prices and Spot Rate indices for SUSHI, CHZ, ENJ, LPT
With institutional demand for Web3 and Metaverse-related tokens continuing to grow, the need for regulated, secure and reliable pricing of such assets is, in turn, becoming ever more critical.
Ken Odeluga
Hashdex set to launch world's first pure-play DeFi ETF, DEFI11, powered by CF DeFi Composite Index
The CF DeFi Composite Index is a liquid, investible benchmark portfolio index that tracks the return performance of decentralised financial services
CF Benchmarks
B2C2’s Bitcoin NDF set to be institutional first choice
It’s the integration of the CME CF BRR as reference price that distinguishes the Bitcoin NDF deal executed by B2C2 from any such deals that would be executed without the BRR as reference price.
Ken Odeluga
WisdomTree and CF Benchmarks launch WisdomTree CF Crypto Index Family
All WisdomTree CF indices are themselves regulated benchmarks, calculated according to CF Benchmarks’ Benchmark methodology which ensures that they meet the most stringent regulatory standards.
CF Benchmarks
CF Benchmarks launches Settlement Prices and Spot Rate indices for AMP, CRV, GRT, MKR, SNX, YFI
CF Benchmarks is continuing to broaden its range of regulated benchmarks for the leading platform tokens, ensuring that the highest standards of price accuracy and governance are in place as institutional volumes approach critical mass.
Ken Odeluga
ASIC greenlights crypto ETFs with CF Benchmarks-based “good practices”
The key to ASIC’s more sure-footed approach is proposals on exchange traded crypto products that point to the adoption of the essence of CF Benchmarks policies and guidelines
Ken Odeluga
ProShares’ Bitcoin ETF launch volumes crush expectations
With around $1bn in day-one volume, BITO approached the turnover dollar value of some of the most popular ETF launches ever
Ken Odeluga
Incoming: U.S. Bitcoin ETF
News reports suggesting that an SEC approval could be imminent came swiftly after key Bitcoin futures ETF applicant ProShares filed an N1-A Registration Statement (AKA an ‘amended prospectus’) for its Bitcoin Strategy ETF.
Ken Odeluga
CF Benchmarks launches Settlement Price and Spot Rate indices for AAVE, DOGE, DOT, MATIC, SOL
Dogecoin now reaches another definitive milestone with the launch of regulated Benchmark Indices calculated by CF Benchmarks, the only UK FCA regulated cryptocurrency Benchmark Administrator, providing reliable, representative, and replicable DOGE pricing.
CF Benchmarks
Announcement: Evolve ETFs’ Evolve Cryptocurrencies ETF, Canada’s first multi-currency crypto ETF, is now trading
With both EBIT and ETHR utilising CF Benchmarks reference indexes, Evolve Cryptocurrencies ETF is backed by the most-trusted and best-regulated cryptocurrency prices.
CF Benchmarks
Bitcoin, Ether ‘commodity’ ETF prospects on track
SEC Chair Gensler said nothing in the WaPo interview to suggest that his views have changed.
Ken Odeluga
Australia’s ASIC prepares ground for crypto ETFs with CF Benchmarks-like policies
The similarities between ASIC’s proposals and the wording and substance of CF Benchmarks policies and methodologies are striking.
Ken Odeluga
Keeping tabs on CF Benchmarks-powered U.S. BTC ETFs - Part II
An update on the crypto ETF paperwork that’s been piling up on the SEC’s desk for almost every month of the year.
Ken Odeluga
How the BRR Liquidity Complex empowers big banks to create regulated Bitcoin products
Our latest whitepaper shows how BRR-powered ETFs within the BRR’s ecosystem of institutional liquidity bridge the regulatory divide to big bank Bitcoin products
Ken Odeluga
Bitcoin futures ETFs with end-to-end regulation in focus
Accepting that the series of the statements has been a coherent, deliberate build-up to Gensler’s August remarks, the probability—if not the inevitability—of the SEC approving a form of Bitcoin ETF in the relatively near future appears to increase.
Ken Odeluga
CF Benchmarks launches Settlement Price and Spot Rate indices for DeFi coins UNI and COMP, plus utility tokens ADA and FIL
Decentralised finance (DeFi) is receiving one of its strongest corroborations yet as a force to be reckoned with across the established financial world as CF Benchmarks brings its regulated Benchmark Methodology to prices for Uniswap and Compound
Ken Odeluga
ProFunds launches First U.S. Bitcoin Mutual Fund – with CF Benchmarks-powered Performance Index
BTCFX instantly becomes the first widely available U.S. cryptocurrency fund – distinct from numerous crypto funds that are only available to accredited investors. This fact alone makes the news a true watershed moment for Bitcoin and crypto.
Ken Odeluga
SEC rewinds more Bitcoin ETF reviews
The SEC is continuing to take its time to decide whether or not to (finally) approve one of the weighty Bitcoin ETF applications on its desk.
Ken Odeluga
SEC warns on Bitcoin futures funds, not ETFs
A close examination of the commission’s recent warnings suggests that its concerns won't have a great deal of bearing on Bitcoin ETF decisions.
Ken Odeluga
SEC restarts the clock on WisdomTree ETF decision
Quite often, the Commission simply needs to ‘restart the clock’, to afford itself more time for consideration
Ken Odeluga
Keeping tabs on CF Benchmarks-supported U.S. Bitcoin ETF applications
To help keep tabs on the CF Benchmarks-powered Bitcoin ETF applications so far, we’ve put together the table below.
Ken Odeluga
CF Benchmarks launches Settlement Price and Spot Rate indices for ALGO, ATOM, BAT and DAI
CF Benchmarks is launching new benchmark indices for ALGO, ATOM, BAT and DAI.
CF Benchmarks
The CF Benchmarks-powered ETFs at the top of the SEC’s queue
The fact that two of the three Bitcoin ETF filings under active review at the SEC propose to use a CF Benchmarks index as their daily valuation price is welcome, to say the least, and may turn out to be significant.
Ken Odeluga
Why price liquidity matters for Evolve’s ETHR ETF
Only Evolve Ether ETF, which uses the CME CF Ether-Dollar Reference Rate as its reference index, is backed by a pricing source with a fully public and transparent methodology.
Ken Odeluga
Announcement: Evolve ETFs is set to launch the world’s first Ether ETF, powered by the CME CF Ether-Dollar Reference Rate
ETHR’s daily NAV will be calculated using the CME CF Ether-Dollar Reference Rate, the only regulated Ether benchmark price
CF Benchmarks
BRR Power: updated research backs the index again
Ultimately, demonstrating that the BRR continued to meet the most stringent standards of those qualities underpins the stated aim of the research in the first place: to validate the BRR as a superior reference price for providers of regulated Bitcoin financial products, chiefly ETFs.
Ken Odeluga
The ‘Bitcoin Effect’ on the traditional 60/40 portfolio
Allocations to Bitcoin represented by the regulated Bitcoin Reference Rate have a very similar effect on a 60/40 portfolio as the one evident from previously published research
Ken Odeluga
ETHUSD_RTI weathers the Ether storm
From a benchmark perspective, the most important point to make is that the Ether market as represented by CF Benchmarks' Ether instruments, ETHUSD_RR and ETHUSD_RTI, has remained stable and orderly throughout the turbulence.
Ken Odeluga
The CME CF Ether-Dollar Reference Rate: Integrity Defined
The clustering towards correlation coefficients of 1.00 demonstrate a strong price correlation between Constituent Exchanges. In turn, the strong price correlation is evidence of a lack of manipulation within Constituent Exchange prices
Ken Odeluga
BRR powered Bitcoin ETF from Evolve Funds wins Regulatory Approval in Canada
The Net Asset Value of the fund will be calculated using the BRR and hence the value at which the shares in the fund will be created and redeemed by investors will be at that day's BRR value.
CF Benchmarks
Why now, for CME Ether Futures?
Although Ether’s market value is still just slightly more than a quarter of the value of the ‘original gangster’, the CME has evidently satisfied itself that an addressable marketplace of institutional Ether participants is as real as the one for Bitcoin.
Ken Odeluga
Ether Futures settling to CF Benchmarks' Ether Dollar Reference Rate start trading
End-to-end oversight will make CME Ether Futures the only fully regulated Ether market in the world. Consequently, participants can have complete confidence in its integrity, regulatory compliance, transparency and accuracy.
CF Benchmarks
Benchmark indices for OMG Network (OMG) and Orchid (OXT) against US Dollars (USD) launched
"We are excited to be able to break new ground for OMG Network and Orchid and extend our coverage of the cryptocurrency asset class at this exciting time."
CF Benchmarks
CF Benchmarks appointed Calculation Agent for Nasdaq Crypto Index (NCI)
Nasdaq, Inc. has launched the Nasdaq Crypto Index (NCI) with CF Benchmarks as Calculation Agent. The NCI is a benchmark index that has been designed to measure the performance of a significant portion of the digital asset market and to provide a benchmark for institutional investment in this new and emerging asset class. The Index is specifically designed to be dynamic in nature, broadly representative of the market, and readily trackable by investors. The first licensee of the index is digital
CF Benchmarks
A Quiet Breakthrough for the Bitcoin Reference Rate
Our latest research validates the CME CF Bitcoin Reference Rate (BRR) as a fully compliant benchmark with consistently achievable prices
Ken Odeluga
UPDATED - CF Benchmarks Cryptocurrency Tax and Reporting Calendar
Our unique cryptocurrency reporting tool now includes the ill imprtant index values for December 31st 2020 How CF Benchmarks Cryptocurrency Price Indices can help you report the value of cryptocurrency holdings and earnings to tax authorities, auditors and other stakeholders that might scrutinise your valuations. This is not and is not intended to be tax advice in any jurisdiction of the world. You should consult your own tax, legal and accounting advisors for any advice on tax matters. Th
CF Benchmarks
Crypto index adds missing LINK
LINK’s full market capitalisation has evidently shot up to around $12.52bn, reflecting an eye-watering price rise of almost 400% so far in 2020
Ken Odeluga
Bitcoin Cash eyes soft landing after hard fork
Ultimately, this switch could have brought about major changes to the Benchmark known as Bitcoin Cash, trading under the ticker ‘BCH’.
Ken Odeluga
Bitcoin’s Open Interest Question
Volatility implied by patterns of trade in Bitcoin options indicated little expectation among sophisticated market of participants that prices would reach $20,000 by year end. Even so, anticipation across the broader market hasn’t entirely diminished.
Ken Odeluga
Not quite a crypto cliff-hanger
Though a clear election end point may still be days away, as votes continue to be counted, wrangled over, and possibly even argued over in court, it’s clear that stocks and other risky assets—including crypto—are taking cues from clear probabilities and a handful of certainties in the bag so far.
Ken Odeluga
CME‘s Bitcoin growth is a low-key big splash
It’s no surprise that corporate pressures and market tailwinds that have catalysed rising crypto demand, have helped contract volumes of CME’s dollar-settled futures in Bitcoin
Ken Odeluga
BTC and LTC’s Peak PayPal Volume
Although more emphatic than timely, the reaction of both Bitcoin and Litecoin markets confirm that this week ought to go down in history as one in which cryptocurrency adoption reached a major inflection point.
Ken Odeluga
Bitcoin buyers break little sweat as $12,000 breached
In fact, the breach of $12,000 itself was not accompanied by particularly remarkable volumes. These were not seen till a few hours later, when turnover accelerated to as much as five times the 90-day average as of 04:00 UTC.
Ken Odeluga
Why Bitcoin sidesteps OKEx Freeze
Both the price and volume response warrant careful scrutiny, because to be sure, there was no ‘melt-down’.
CF Benchmarks
It’s time for a LINK Benchmark
Guess which DeFi-linked coin is now the biggest by market capitalisation? With a full market cap of around $10.9bn, LINK wins that accolade.
CF Benchmarks
Square’s Bitcoin news was bigger than it looked
The importance for Bitcoin price sentiment was underscored by a spike in trading volume. The jump ought to be regarded as just as unequivocal as the price move. There was strong corroboration from CF Benchmarks’ regulated volume data.
CF Benchmarks
Why Crypto shrugs off BitMEX’s Disintegration
The charges obviously have several major implications for the cryptocurrency industry. Even so, the market reaction speaks volumes about the dwindling influence of BitMEX on the Bitcoin market.
CF Benchmarks
Goodbye to Crypto Hold-outs’ last stand
Though price-manipulation fears are among the last remaining misgivings institutional market participants have against investing in digital assets, methodologies are now available that go a long way towards neutralising those concerns
CF Benchmarks
All the Ether you can trade
What if your very existence depended on finding a practical answer to the question of how much Ether exists?
CF Benchmarks
Crypto Market-Cap Concerns solved - ‘FUD’ not so much
The chief concern for the institutional market segment is that the task of replicating an asset class becomes more difficult following actual or even just perceived liquidity changes
CF Benchmarks
Crypto Busts Highlight Fake Price Risks
With recent reminders that the crypto market boom can all too easily be followed by busts of one kind or another, the need for rock solid price data of the standard set by CF Benchmarks is only set to increase.
CF Benchmarks
How BlockFi beats the great crypto pricing conundrum
One of the crypto world’s greatest (and oldest) conundrums: how to establish the price of an asset, like Bitcoin, at any given time
CF Benchmarks
Press release: CF Benchmarks to Provide Crypto Price Indexes for BlockFi Lending Products
"With FCA-regulated cryptocurrency indexes behind our products, our clients can be confident knowing they’re getting the most trusted information to best inform their investment strategies and decisions no matter what time of day it is,” said Zac Prince, CEO of BlockFi.
CF Benchmarks
Bitcoin and Ether Price Integrity Now comes in Euros
CF Benchmarks was already the only UK and EU-authorised provider of cryptocurrency benchmark indices. Now, it’s the only regulated benchmark administrator that provides euro-denominated Ether and Bitcoin indices.
CF Benchmarks
Press release: CF Benchmarks launches PAX Gold-USD benchmark price index
"Traditional gold markets only operate Monday through Friday, so this new offering opens new opportunities for financial markets.” said Sui Chung, CEO of CF Benchmarks.
CF Benchmarks
Press release: CF Benchmarks pioneers world’s first crypto market benchmark index
The “CF Benchmarks Ultra Cap 5” Cryptocurrency Index is the first true beta benchmark for crypto, covering about 75% of the entire crypto market LONDON, 19 August 2020 -- CF Benchmarks, the leading cryptocurrency index provider, has launched an index that accurately reflects the circulating supply of each comprising crypto (or index constituent). The CF Benchmarks Ultra Cap 5 is fully rules-based and free float market capitalisation weighted. The index represents more than 75% of the entire cr
CF Benchmarks
Introducing the CF Cryptocurrency Ultra Cap 5 Index
The CF Cryptocurrency Ultra Cap 5 Index accurately reveals which coins are driving the crypto market There’s no mistaking that the crypto world is evolving at a dizzying pace. ‘Total Value Locked’ in DeFi (decentralized finance) recently passed $4bn for the first time. High profile investors like Paul Tudor Jones and hedge fund Renaissance Technologies have piled in of late. Ether futures volumes notched new daily highs in early August after Bitcoin’s turbo-charged acceleration a few months ea
CF Benchmarks
Ether posts strong returns of 11.9% in May and 2020 gains hit 82.5%
* 2020 gains continue for Ether through May but Ether-Dollar Reference Rate shows the second largest crypto is still in negative territory (-9.3%) over the past 12-months * Returns since ETH hit its 2020 low ($113.62 March 16) stand at over 108% * Volumes trended lower but were still well ahead of the lull seen in January
CF Benchmarks
Bitcoin Returns 7.7% in May and 32.6% for 2020
* May saw the BRR almost touch $10,000, hitting a month high of $9,952 on May 8, on that day the BRR showed Bitcoin returned a staggering 96.6% from its 2020 low ($5082.7 March 16) * The annual return stood at 13.2% with YTD returns even better at 32.6%, but from its 2020 low ($5062.68, March 16) the BRR shows Bitcoin returning a staggering * Volumes remained strong and May 21 saw a volume surge as Bitcoin pared back some of its gains
CF Benchmarks
CF Benchmarks Launches Indices for Tezos, Stellar Lumens and EOS
CF Benchmarks will begin publishing benchmark indices for Tezos (XTZ), Stellar Lumens (XLM) and EOS (EOS) to USD from today. Each asset will be represented by both a once a day Settlement Price and a per second Spot Rate, published 365 days a year. Transaction and Order Book data for these indices will be drawn from Coinbase and Kraken. The new indices will become the latest members of the CF Cryptocurrency Index Family - full index methodology and governance documents can be found here. "We a
CF Benchmarks
ETH returns 61% in April, the best monthly return since May 2019 (64%), recovering most of its March losses
* ETH remains 24.4% off its 2020 high yet still shows an impressive 60.6% YTD return * Aggregate volumes in April (713,389) trail March (934,680) but were still significantly ahead of January (247,500) and February (534,707) * April 23rd saw volumes of 120,812 ETH traded, only slightly behind "Black Thursday" - March 13th (123,248)
CF Benchmarks
Bitcoin recovers most of its March losses, but remains 14.4% below its 2020 high
* BRR shows Bitcoin recovers most of its March losses, on April 30th BRR was $8848.5 sitting just 3.1% below the March high of $9127.1 set on March 7th. * YTD returns at April 30th are a healthy 22.8% but Bitcoin is still 14.4% below its 2020 high of $10,336.0 set on February * Aggregate BRR volume of 74,656 XBT for April was significantly lower than March's record volumes (103,765 XBT) but still a long way ahead of volumes seen in Jan (35,034 XBT) and Feb (44,538 XBT)
CF Benchmarks
BRR sees record volumes as Bitcoin falls 24.6% in March
* BRR sees record monthly volumes of 103,765 XBT traded in March, more than double February * Over 14,000 XBT were traded on March 13th - Black Friday * Bitcoin ends the month 24.6% lower, after recovering towards the second half, losses stood at 41% on March 16th * Rolling 24hr volatility of the CME CF Bitcoin Real Time Index reached 70% on March 13th 0305 UTC https://twitter.com/CFBenchmarks/status/1238477558401904640
CF Benchmarks
Website improvements
At CF Benchmarks, we're always trying to improve our infrastructure. One area we've been focusing recently is our website. Last year we spent some time revamping the site. We gave it more of a dashboard feel, improving the graphs and adding a bit more data content. Once that was deployed, the data looked great, but we felt we could do more to improve our news posts. Until recently, our news items were all simple text based posts that were difficult to write and publish. We wanted the abili
CF Benchmarks
Ether-Dollar Reference Rate posts 23.2% return in Feb'20 amidst record breaking volumes
* Best monthly return for ETH-USD Reference Rate since May'19 and second best month on record * Aggregate volumes in Feb'20 (534,707 ETH, $130.5M) smash all previous records - Dec'18 (457,417 ETH) and May'18 ($79M) * Feb 15th 2020 saw all-time record dollar volume of $15.9M, topping the previous high of $11M set on Nov 21st 2019 * Month high of $279.94 (Feb 19th) is highest since July 10th 2019 * Volumes recorded surged 127.8% vs Jan'20
CF Benchmarks
BRR falls 7.5% in Feb'20 on strongest monthly volumes since July'19
* Total aggregate volumes traded in Feb'20 increased by 27.1% vs Jan'20, reaching 44,538 BTC, despite a short month * Feb'20 (44,538 BTC, $434.9M) saw the strongest monthly volumes since July'19 (83,151 BTC, $883.1M) * Feb 11th 2020 saw 7,268 BTC/ $72.9M traded, the highest daily volumes recorded for the BRR since Nov 21st 2019 - 12,577 $95.3M * Coinbase gained over 5% in share vs. the previous month
CF Benchmarks
Bitcoin climbs 28.7% in Jan, amidst smoother trading volumes than Dec
* Aggregate volume captured by the BRR in Jan '20 15% lower than Dec '19 * Highest volume day in (Jan 14) saw 42% less volume than the highest volume day in previous month (Dec 9), pointing to smoother trading volumes in Jan * Bitstamp increased share of volume by 4 percentage, whilst Coinbase share fell 3.5 percentage points month to month * Average trade size in Jan'20 fell to 0.2598 BTC from 0.2879 BTC in Dec'19
CF Benchmarks
CF Benchmarks Authorised and Regulated by the FCA under EU BMR
CF Benchmarks becomes first cryptocurrency index provider to receive FCA authorisation. Will allow asset managers and trading firms to create cryptocurrency products and funds, including ETFs, in compliance with European regulation.
CF Benchmarks