Nasdaq Will Add Bitcoin (BTC) and Ethereum (ETH) Indexes to its Global Index Service
Nasdaq has partnered with New Zealand based Blockchain data firm Brave New Coin to add Bitcoin (BTC) and Ethereum (ETH) indexes to its family of 40,000 indexes.
Nasdaq, which is the second largest stock exchange in the world announced on its website that it will be offering two Cryptocurrency based indexes on its Global Data Index Data ServiceSM (GIDS) data feed starting from February 25th. The two indexes include Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) which will offer real-time spot or reference rate (quoted in USD) for the price of 1 BTC and 1 ETH respectively.
Nasdaq’s alert said:
“Both indices are calculated using a methodology that has been independently audited against key IOSCO principles. 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 is dipping its toes deeper into the Crypto ecosystem, it is already providing services to 7 Cryptocurrency and is working to improve the quality of data and price discovery in Crypto. It also plans to launch its own Bitcoin futures platform in Q1 of 2019.
Nasdaq also acquired Swedish Crypto-friendly exchange Cinnober last year and has invested in Crypto exchange ErisX and Enterprise Blockchain firm Symbiont.
Nasdaq’s CEO Adena Friedman complimented Cryptocurrencies in her recent post on Linkedin, she said:
“The invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy”
Larger institutions like Nasdaq, ICE and Goldman Sachs are slowly but surely building the infrastructure for the maturation of the Crypto ecosystem.
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