Bloomberg announced that its Crypto Exposure Analytics solution now supports clients in assessing compliance with the Basel Committee on Banking Supervision’s (BCBS) prudential standards for banks’ exposure to crypto assets and tokenised real-world assets. The update adds data-driven classifications that allow firms to identify and quantify exposure in line with the BCBS framework across risk, compliance, and reporting workflows, without having to combine multiple datasets.
The product was first launched in 2025 to track direct and indirect crypto asset exposures. With this expansion, Bloomberg is extending its scope from exposure detection to Basel-aligned classification and reporting.
Regulatory context
As regulators begin implementing the BCBS framework for crypto assets, firms must classify crypto-related exposure across four categories: Group 1a, Group 1b, Group 2a, and Group 2b. These classifications feed into capital treatment and regulatory reporting.
One complication is that crypto exposure often sits within traditional instruments such as ETFs, mutual funds, equities, derivatives, and corporate bonds, rather than being confined to direct spot holdings. According to Bloomberg, its analytics have identified approximately 1,700 funds with potential relevance under the framework. Roughly half of these do not include crypto exposure in their stated investment strategy, a figure the company cites as evidence of the need for scalable, transparent classification and exposure mapping.
Zane Van Dusen, Global Head of Risk & Investment Analytics Products at Bloomberg, noted that many teams initially tracked crypto exposure through manually maintained watchlists and spreadsheets, an approach that is becoming harder to sustain as firms work to comply with new regulatory frameworks and prepare for subsequent supervisory scrutiny.
Coverage and data governance
The solution draws on Bloomberg’s datasets across asset classes to surface crypto exposure and assign BCBS-aligned categories. Coverage includes 110 spot tickers and currency pairs, 950 listed futures contracts, 320.000 listed options contracts, 670 index tickers, 600 unique company tickers, 280 government and corporate bonds, and 125.000 unique fund tickers.
Classifications are produced through a rules-based process using Bloomberg reference data, securities coverage, fund holdings, and company financial disclosures. They are reviewed regularly to reflect market and regulatory developments. In addition, each classification carries explainability fields, allowing clients to review, validate, and challenge results as part of their internal audit and governance processes.
Morgan Stanley is among the firms using the solution. Steven Davis, Global Head of Equity and Listed Derivative Product Reference Data at Morgan Stanley, said it enables the firm to identify crypto exposure through look-through analysis across funds and exchange-traded products (ETPs), and to classify those exposures in line with the BCBS framework to support regulatory compliance, risk oversight, and disclosure. The firm’s institutional securities and wealth management divisions also use it to identify crypto-related products for clients.
Delivery and wider roadmap
Crypto Exposure Analytics is available through Bloomberg Data License and can be delivered via SFTP, REST API, or into a cloud environment. The same analytics can be accessed on the Bloomberg Terminal through the Security Worksheet desktop solution, using the {WSL CRYPTOEXPO <GO>} and {WSL CRYPTOETFS <GO>} worksheets, keeping data consistent across user and enterprise workflows.
The announcement forms part of Bloomberg’s broader digital assets roadmap for institutional clients operating across traditional and next-generation financial systems. It follows a joint initiative with Kaiko to develop a pathway for Bloomberg Data License offerings to be accessed on-chain via Kaiko’s infrastructure, as well as the launch of a stablecoin dashboard on the Bloomberg Terminal powered by data from Allium.
