State Street expands MediaStats for Bitcoin
State Street Corporation has announced the launch of a new Bitcoin Thematic Indicator series to help contextualise the popularity of Bitcoin and how it is impacting traditional financial markets, by quantifying media coverage of the cryptocurrency.
It would measure the intensity or prevalence of the media coverage relative to all news of the day, as well as the sentiment of news over a period of time.
The new series expanded the State Street MediaStats Thematic Indicators offering which was launched in November 2020 in partnership with MKT MediaStats.
The indicators analyse digital news sources to generate daily sentiment signals for various assets to help institutional investors form a more complete picture of what factors are driving their portfolios and overall markets.
Rajeev Bhargava, head of the investor behaviour research team at State Street Associates, said: “Over the last few months, media coverage around Bitcoin has grown significantly relative to corporate, financial and economic media markets and continues to trend higher.
“Understandably, institutional investors are increasingly eager to learn how this rising attention is impacting traditional asset markets.
“Our newest Bitcoin series provides a quantitative and timely measure of the tone and intensity of media discussion and reveals additional transparency into this highly sentiment driven market, enabling our clients to make more informed investment decisions.”
Dr Gideon Ozik, managing partner and founder of MKT MediaStats, said: “Our indicators are built on a decade’s worth of natural language processing research combined with a strong academic underpinning.
“Now, harnessing the power of vast data to provide real-time perspectives, we’re able to offer investors a tool they can leverage to make tactical and strategic judgments on key narratives that drive financial markets.”
AUTHOR
Chris Dastoor
Recommended for you
Three fund managers have been added as underlying managers for the Third Link Growth Fund, an Australian equity fund donating its fee to charity.
Colonial First State has chosen Franklin Templeton specialist investment manager, Martin Currie Australia, to manage a mandate on its FirstChoice platform.
Advisers sought to capitalise on market turbulence caused by US President Donald Trump’s tariffs in April, according to AUSIEX, with international ETFs remaining a popular buy.
Northern Trust Asset Management has promoted two individuals to the position of global co-chief investment officers.
