According to sources at CoinDesk, U.S. based stock exchange Nasdaq is currently in the process of building a tool that will allow institutional investors to track market sentiment across a variety of cryptocurrency assets. The unnamed source—who claims to be familiar with Nasdaq’s plans—explains that the tool will aim to predict cryptocurrency pricing movements and as result, will be added to the portfolio of its Analytics Hub.

First built in 2017, the Analytics Hub utilizes a combination of natural language processing and machine learning to extract, analyze and evaluate vast quantities of online sources (such as social media platforms) to ascertain investor sentiment in the wider market. The Hub is already in operation and currently supports a variety conventional financial assets.

The unknown source also told CoinDesk that the innovative tracking tool will initially focus on 500 different cryptocurrency assets, whereby it will target three specific aspects to its analysis, including social media, capital flows through wallets and data extracted from exchanges. Moreover, the source claims that the tool is already going through the Beta stage of testing and that it could go live as early as November.

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This is another sign that Nasdaq is looking to get a foot in the cryptocurrency market. Earlier in the year, the organization began collaborating with U.S. based cryptocurrency exchange Gemini. The partnership was designed to support liquidity, as well as offer investors price improvement opportunities. Then in April, CEO Adena Friedman publicly expressed her positive sentiment towards the industry, even going so far as to hint at the possibility of a Bitcoin futures market in the near future.

Nevertheless, Nasdaq is not alone in their quest for cryptocurrency data extraction. Earlier in June, Bloomberg added the HUOBI 10 INDEX to its data terminal. The index tracks the top 10 cryptocurrencies traded on the Huobi Pro platform. Furthermore, just last month, Thomson Reuters began importing data from CryptoCompare to its Finance Data feed. The data tracks the top 50 cryptocurrencies in terms of market capitalization and allows everyday users to view pricing movements via the Thomas Reuters desktop feed.

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