Bloomberg, along with Galaxy Digital, announced the expansion of its crypto offering with the launch of the Bloomberg Galaxy DeFi Index (ticker: DEFI). Alongside the index launch, Galaxy Digital's funds platform, Galaxy Fund Management, is now offering the Galaxy DeFi Index Fund, a passively managed fund tracking the performance of DEFI. The benchmark is designed to measure the performance of the largest decentralized finance (DeFi) protocols by market value that offer financial services without a central financial intermediary, such as brokerages, exchanges, or banks. DeFi is an emergent sector of digital assets that replicate financial functions such as borrowing, lending, and exchanging assets. The benchmark is owned and administered by Bloomberg Index Services Limited and is co-branded with Galaxy. The constituents represented in DEFI are selected based on institutional trading and custody readiness in the US, as well as quality of pricing. Each constituent will represent a hold of no more than 40% of the Index and no less than 1% of the benchmark's overall value. DeFi protocols will be considered for addition or removal to or from the Index on a monthly basis.