Investment bank and financial services firm Goldman Sachs has revealed that it is set to launch a data service to rank hundreds of digital coins and tokens so that institutional investors can understand the rapidly growing digital asset class.

Created in collaboration with global index provider MSCI and crypto data firm Coinmetrics, the data service is called Datanomy. The name was derived from the combination of data and taxonomy, a branch of science focused on naming and classifying the natural world.

Datanomy is created to address the problem of many digital assets not being classified in their respective sectors. As the digital asset ecosystem has been expanding over the years, it can seem daunting to understand if you are not familiar with the various sectors of expansion.

Coin Metrics CEO Tim Rice said that large asset managers wanted an “adult framework” to better understand digital assets and invariably discuss them.

added rice,

“We organized it in an intuitive way that should help asset managers get into this asset class in a much more standardized way. can figure out what the next directional move is in the market.”

Users can access Datanomy either as a subscription-based data feed or through Marquee, a Goldman Sachs platform used as a digital storefront for institutional investors.

In addition, Datanomy provides users with analysis and research, as well as performance benchmarking, portfolio management or creation of investment products depending on the sectors they include. decentralized financesmart contract platforms, metaverse or value transfer currencies.

Anne Marie Darling, head of client strategy for Goldman’s Marquee platform, noted:

“We are trying to create a framework for the digital asset ecosystem that our clients can understand because they need to think more and more about performance tracking and risk management in digital assets.”

Digital assets in Datanomy would be divided into classes, sectors and sub-sectors based on the use of tokens or coins. According to Darling, this will allow asset management firms and hedge fund money managers to become familiar with cryptocurrencies in the way that stocks can be debatable in industry sectors like finance or technology or topics like growth. versus value stocks.

In particular, Datanomy is just one of the products that Goldman Sachs has launched in recent times to achieve its goal of expanding beyond Bitcoin-focused products in the crypto market. In June, the investment bank launched an Ethereum-linked derivative product to offer institutional investors indirect exposure to the cryptocurrency market.

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