Nasdaq and CME Group Relaunch Joint Crypto Index to Power the Next Wave of Regulated Digital Asset Products

A revamped benchmark signals a deeper push by traditional market giants into diversified, institution-grade crypto exposure

TL;DR

• Nasdaq and CME Group have jointly relaunched the Nasdaq-CME Crypto Index in early January 2026, rebranding Nasdaq’s existing crypto benchmark and tightening its institutional governance.
• The index tracks a diversified basket of major digital assets and is designed to support regulated products such as ETFs, structured notes, and actively managed funds.
• CF Benchmarks will calculate the index, while Nasdaq and CME oversee governance, aiming to meet rising institutional demand for transparent, regulated crypto exposure.

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Nasdaq and CME Group have deepened their long-standing partnership by relaunching a joint digital asset benchmark, positioning the newly branded Nasdaq-CME Crypto Index as a foundational tool for the next generation of regulated crypto investment products. The update, announced in early January 2026, reflects growing institutional interest in diversified crypto exposure and signals how traditional market infrastructure providers are moving beyond single-asset products toward broader, index-based strategies. The relaunch rebrands Nasdaq’s existing Nasdaq Crypto Index while adding new layers of governance, pricing oversight, and market credibility through CME’s involvement.

The Nasdaq-CME Crypto Index is designed to track the performance of a basket of major digital assets rather than focusing solely on Bitcoin, aligning the crypto market more closely with how equities, bonds, and commodities are accessed through benchmarks. Before the rebranding, the underlying index included assets such as Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, and Avalanche, with weightings determined by market capitalization and liquidity. Historical data from late 2025 showed Bitcoin accounting for more than 70% of the index, followed by Ethereum at roughly 15%, while the remaining assets made up smaller but meaningful portions, reflecting the market’s concentration while still offering diversification.

Calculation of the index will now be handled by CF Benchmarks, a move intended to strengthen pricing transparency and align the benchmark with standards expected by institutional investors and regulators. CF Benchmarks aggregates pricing data from multiple vetted trading venues, reducing reliance on any single exchange and addressing long-standing concerns around data quality in crypto markets. Oversight of the index will be shared by Nasdaq and CME through a joint governance framework, with publicly available methodology outlining eligibility rules, rebalancing schedules, and criteria for adding or removing assets. The index is rebalanced quarterly and applies strict requirements around custody support and trading availability, mirroring the controls commonly seen in traditional financial benchmarks.

Executives from both firms have framed the relaunch as a response to changing investor behavior. Nasdaq has pointed to increasing demand for index-based exposure as investors seek to move beyond directional bets on individual tokens toward portfolio-style allocations. CME, which has played a central role in regulated crypto markets since launching reference rates and futures tied to Bitcoin nearly a decade ago, brings derivatives expertise and risk-management credibility to the partnership. Together, the companies are positioning the index as infrastructure rather than a product, a benchmark that asset managers and issuers can use as the basis for exchange-traded funds, structured products, and actively managed strategies.

The timing of the relaunch comes as regulated crypto products gain traction globally. Nasdaq has previously licensed its crypto indices to products managing more than $1 billion in assets across multiple regions, illustrating that institutional appetite already exists for benchmark-driven exposure. Market participants view the Nasdaq-CME Crypto Index as a way to standardize that demand, offering a transparent reference point that can be used consistently across jurisdictions and product types. Nasdaq has also highlighted that even small portfolio allocations to crypto, often cited in the range of one to five percent, represent significant capital flows when applied across institutional balance sheets.

Operationally, the transition to the Nasdaq-CME Crypto Index is scheduled to be reflected across Nasdaq’s global index data feeds later in January 2026, ensuring continuity for existing licensees while signaling a clear shift in branding and governance. The relaunch underscores how traditional exchanges are embedding themselves deeper into digital asset markets, not by replacing crypto-native infrastructure, but by wrapping it in familiar frameworks of oversight, transparency, and index construction. As regulatory clarity improves and institutions continue to explore diversified exposure, the new joint index is being positioned as a bridge between legacy finance and an increasingly mature crypto market.

This article has been refined and enhanced by ChatGPT.