CF Benchmarks Launches 177 Onchain Indices, Including Prices Used by BlackRock Products

Key Facts

On October 27, CF Benchmarks launched CFB Oracle, a service that gives blockchain applications access to benchmark indices for cryptocurrencies, equities, bonds, commodities and currencies, bringing institutional pricing data into onchain applications. The launch set includes 177 indices, the company said, spanning multiple asset classes. CF Benchmarks indices underpin reference prices for BlackRock’s bitcoin exchange-traded fund and CME Group’s cryptocurrency futures contracts. The company said its indices are used in products representing more than $120 billion in assets. The service allows developers to use these indices to build onchain products without developing their own pricing systems.

CF Benchmarks says the service adds a digital signature to published index values, allowing applications to verify that a price came from the company and has not been altered. CFB Oracle retains the methodology of existing indices and does not introduce a new set of indices; the addition is a signature for each published value. This means an application can verify a price’s source and integrity before using it in its functions. The service currently operates on Ethereum, HyperEVM and Robinhood Chain, with plans to support other compatible networks. The company said verified indices had been available to clients through an API since August 31, ahead of the service’s public launch.

The launch set comprises 70 cryptocurrency indices, 89 equity indices, 7 commodity indices, 3 foreign-exchange indices and 8 staking and interest-rate indices, according to a breakdown from CF Benchmarks. Equity indices are calculated from tokenized stock order books, rather than directly from exchange data. The indices allow developers to build index funds, tokenized portfolios and onchain derivatives. Uses cited by CoinDesk include valuing a portfolio of tokenized stocks or calculating the value of a tokenized asset used as collateral to determine related borrowing and liquidation. CFB Oracle supplies these products with the necessary benchmark prices, but does not issue the funds or execute trades itself.

Some real-time indices draw on the BRTI, which aggregates order books from seven trading platforms and is subject to the rules of the U.K. Benchmarks Regulation. Under the index methodology, the BRTI value is calculated every 200 milliseconds, and a platform’s price is excluded if its average price is more than 5% away from the median prices of participating platforms. The platform returns to the calculation only when the gap falls below 2.5%. The company said aggregated BRTI order-book depth had a median of $27.7 million within 0.1% of the mid-price during the period from October 1, 2025, to October 8, 2026, while it was $20.2 million at the fifth percentile. This framework shows how prices are aggregated and deviations monitored before the index is published.

U.S.-regulated platforms use indices from the same family to settle CME Group bitcoin futures and event contracts at Kalshi and ForecastEx, according to a CF Benchmarks post. For Kalshi’s bitcoin contracts, 60 BRTI readings are taken during the final minute before a contract expires, and their average is used as the official settlement value. CF Benchmarks manages the reference price used to calculate the net asset value of the iShares Bitcoin Trust, according to U.S. Securities and Exchange Commission filings. The company also says it is registered with the U.K. Financial Conduct Authority as a benchmark administrator under number 847100. This background places the service’s indices within pricing infrastructure used by existing products and markets, while CFB Oracle adds the ability to verify values on supported networks.

The launch puts CF Benchmarks in competition with oracle providers such as Chainlink and Pyth, which supply market data to decentralized trading and lending platforms. Bringing the company’s indices into applications allows developers to rely on its prices when building new products, but the service remains a benchmark price provider and does not issue products or execute their transactions. CF Benchmarks said the shared verification contract, key registry and data attestation token underwent a security assessment by Zellic from August 3 to 6, which produced 3 findings, all described as informational. Next, parent company Payward plans to use CFB Oracle to provide pricing data for U.S. perpetual futures operating through Hyperliquid. That product is still awaiting regulatory approval.