Nasdaq, CME Unite Crypto Indices Under New Benchmark
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Nasdaq and CME Group have combined their crypto indexing efforts into a single benchmark by introducing the Nasdaq Crypto Index as the Nasdaq-CME Crypto Index.
Key Takeaways:
Nasdaq and CME Group have unified their crypto benchmarks to create a single multi-asset index focused on institutional investors.
The Nasdaq-CME Crypto Index is designed to reflect traditional market benchmarks.
The index supports a growing ecosystem of regulated products.
The announcement solidifies a nearly three-decade partnership between the two market infrastructure providers, according to Nasdaq.
The revised index is designed to serve as a benchmark for investors seeking exposure beyond single-asset crypto strategies, as regulatory transparency and institutional participation expand.
CME says new crypto index aims to match traditional market benchmarks.
“This is not just a name change,” said Giovanni Viccioso, executive director of equity and alternative products at CME Group.
Comparing the index to traditional asset classes, he explained that it is a combination of two established market standards designed to provide stewardship and diversification.
The Nasdaq-CME Crypto Index tracks a basket of major digital assets including Bitcoin, Ether, XRP, Solana, Chainlink, Cardano and Avalanche.
Nasdaq said the index was built to reflect the broader crypto market, rather than focusing solely on Bitcoin.
According to Sean Wasserman, head of index product management at Nasdaq, as the crypto market becomes more complex, investors are increasingly exposed to index-based exposure.
“We see an index-based approach is the direction investors are going beyond Bitcoin,” he said, drawing parallels with the shift in equity and commodity markets.
Governance and transparency are central to the index structure. The benchmark is calculated by CF benchmarks and is controlled by a joint management committee with eligibility rules, liquidity constraints and quarterly balancing in a published methodology.
Executives This framework is designed to address institutional concerns and expectations.
The initiative builds on the long-standing partnership between Nasdaq and CME Group, which began in the 1990s with Nasdaq-100 futures and later became one of the most liquid equity index derivatives ecosystems in the world.
Earlier this year, the two firms extended their Nasdaq-100 licensing agreement for another decade.
In addition to equity, the index is expected to include a wide variety of regulated products, exchange-traded funds and structured investment vehicles.
The index already supports products licensed in the U.S., Europe and Latin America, which hold more than $1 billion in assets, according to Nasdaq.
The CME Group posts record trading volumes in 2025
According to reports, CME Group recorded the highest trading activity in 2025, with an average daily volume of 28.1 million contracts, an increase of 6% compared to last year.
The increase reflected strong participation in interest rates, stocks, commodities, foreign exchange and crypto derivatives as investors reacted to changing macroeconomic conditions.
Activity accelerated through the end of the year, with average daily volume growing to 27.4 million contracts in the fourth quarter and posting its strongest performance in December.
CME's demand has been fueled by the use of hedging tools in the context of widespread interest rate changes, commodity price inflation and the continued growth of crypto derivatives.
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