Global index provider FTSE Russell has partnered with Chainlink to publish its benchmark equity and digital asset indexes onchain, highlighting how blockchain technology is being used to deliver institutional-grade market data.
On Monday, Chainlink announced that data for the Russell 1000, Russell 2000 and Russell 3000 small-cap indexes, the FTSE 100 Index and several digital asset benchmarks will be made available across multiple blockchains via DataLink, an institutional-grade publishing service powered by the oracle network.
The Russell indexes, widely used as benchmarks for US small- and mid-cap stocks, are tracked by more than $18 trillion in assets globally.
Fiona Bassett, CEO of FTSE Russell, said the move is part of the company’s strategy to enable “innovation around tokenized assets” and exchange-traded funds.
FTSE Russell introduced a series of digital asset indexes in January through a partnership with SonarX, aiming to provide institutional investors with standardized benchmarks for the crypto market.
In 2023, FTSE Russell partnered with digital asset manager Grayscale to launch five indexes that categorize the cryptocurrency market by sectors, including smart contract platforms, utilities and consumer products.
Institutional Adoption of Blockchain Technology Gains Traction
FTSE Russell is among several major financial institutions exploring blockchain technology for applications such as tokenization, settlement and stablecoin integration. JPMorgan has expanded its tokenization efforts through its private Kinexys blockchain, bringing private equity funds onchain.
Goldman Sachs and BNY have also begun offering tokenized money market funds for clients, featuring round-the-clock settlement and onchain ownership tracking.
In April, US banking giant Citigroup said the growing institutional interest in blockchain is being fueled partly by a clearer regulatory environment, particularly regarding stablecoins.
“The main catalyst for their greater acceptance may be regulatory clarity in the US, which could enable greater integration of stablecoins specifically, and blockchain more widely, into the existing financial system,” Citi said.
JPMorgan reportedly plans to let clients borrow against their Bitcoin and Ether.