On the evening of December 14, 2017, news began to spread that Bloomberg is listing additional cryptocurrencies – namely, Ether, Litecoin, and Ripple – on its professional terminal service used by financial experts.
The Bloomberg Terminal is an analytic tool of the old guard, established in 1981 to provide an additional layer of transparency to the marketplace. It's not cheap either: Bloomberg's prices are not publicized, but it charges over $20,000 for an annual subscription to its terminal.
There has been a shift of attention to blockchain-backed currencies. Since April 2014, Bloomberg's pricing service has listed a BTC/USD pair; adding more cryptocurrencies to the index represents a significant step toward mass adoption for blockchain platforms like Ethereum.
Institutions are discovering they cannot help but acknowledge the surge of interest in cryptocurrencies, given the performance of the marketplace. And although they are often conflated with volatility, the growth of many cryptocurrency platforms has vastly outpaced conventional models of publicly-traded, investor-driven companies.
It remains to be seen how the addition of Ether, Litecoin, and Ripple to Bloomberg Terminal will affect investor sentiment, but for now, the acknowledgment comes as a kind of vindication to an ecosystem focused on mainstream acceptance.
Bloomberg uses pricing information from the Luxembourg-based Bitstamp cryptocurrency exchange.