Skip to main content

Nasdaq’s New BTC and ETH Indices Launch With Real-Time Price Data

Nasdaq's New BTC and ETH Indices Launch With Real-Time Price Data

The Nasdaq stock exchange has officially listed bitcoin core and ethereum indices on its platform of 4,000 global indices starting Monday, Feb. 25. The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) provide real-time information on the price of 1 BTC and 1 ETH in dollar terms, based on the most liquid ends of their markets. Both indices, created by market data company Brave New Coin, will be refreshed every 30 seconds.

Also read: Bitfinex Recovers $106,000 of Stolen BTC With U.S Government Help

Crypto Indices to Capture Data From Multiple Exchanges

According to Nasdaq, the BLX and ELX work by capturing data from multiple exchanges to provide a single price point for bitcoin core and ethereum which “helps traders get in and out of a given position.”

Nasdaq and Brave New Coin (BNC) claim the methodology has been verified by independent auditors and against key International Organisation of Securities Commissions (IOSCO) principles. “The methodology adds to the transparency of pricing crypto assets, a concern that has prevented regulators in approving retail products,” said BNC in a statement.

Nasdaq's New BTC and ETH Indices Launch With Real-Time Price Data

Announcing the cryptocurrency indices two weeks ago, Nasdaq stated:“The BLX is one of the most widely-referenced BTC indices among crypto traders and has been calculated back to 2010. Likewise, the ELX has been calculated back to 2014.”

Nasdaq’s latest move is seen as crucial to introducing cryptocurrency to traditional stock market investors on Wall Street and elsewhere, thereby driving mainstream adoption. The stock exchange has swam against the tide in being drawn to crypto assets, starting with publishing analytical reports on Bitcoin and partnering with Vaneck to launch BTC futures trading in a falling market last year.

‘Crypto Derivatives Wave Inevitable’

The two new indices join several dozen of Nasdaq’s indices including the Nasdaq Composite, its main index, and the Nasdaq 100, through its Global Index Data Service. The data service is a real-time feed that consolidates all Nasdaq indexes and ETF valuation data, including third-party partner data.

“The crypto derivative wave is inevitable,” Fran Strajnar, chief executive officer of Brave New Coin commented. “Once custody was solved, first with Fidelity’s announcements last November, and now with indices that align with IOSCO principles being available through the Nasdaq, there’s going to be a rush to produce all manner of financial instruments, which the institutional users have been asking for, for almost 3 years now,” he added.

Nasdaq's New BTC and ETH Indices Launch With Real-Time Price Data

The Nasdaq is the world’s second largest stock market by capitalization, behind only the New York Stock Exchange. More than 3,400 companies are listed on the bourse, which boasts a total market value of $10 trillion. Cryptocurrency is expected to benefit from the exchange’s expansive reach. Acceptance by institutional investors which dominate trade on the Nasdaq is regarded by some as a major step towards mainstreaming virtual currencies as well as increasing adoption.

Do you think the bitcoin core and ethereum indices on Nasdaq will help improve cryptocurrency adoption? Let us know in the comments section below.

Images courtesy of Shutterstock.

Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com

The post Nasdaq’s New BTC and ETH Indices Launch With Real-Time Price Data appeared first on Bitcoin News.



from Bitcoin News https://ift.tt/2Tl3qkw
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more