Nasdaq to begin offering Bitcoin and Ethereum indices

14 Feb, 2019 | Updated: 14 Feb, 2019
by Richard Allen
Nasdaq to begin offering Bitcoin and Ethereum indices

According to a statement made by Nasdaq, the American stock exchange will, from February 25, begin offering real-time information on two new cryptocurrency indices – Bitcoin core and Ethereum.

The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) will “provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets,” the statement reads.

The statement explains that both indices are calculated using data from multiple cryptocurrency exchanges “to provide a single price point for BTC and ETH.” Nasdaq further states that the methodology has been independently audited.

Read more: Nasdaq-backed Symbiont blockchain platform raises $20 million

According to Nasdaq, “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.”

The exchange states the indices were developed through its relationship with Brave New Coin that will provide traditional stock market investors with valuable information, providing a boost to mainstream adoption.

Read more: Nasdaq is working with 7 crypto exchanges; Gemini & SBI Virtual Currencies onboard

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