Bitcoin News

Nasdaq will add Bitcoin and Ethereum indices by the end of the month

The second largest stock exchange in the world Nasdaq is set to add the Bitcoin and Ethereum indices to its global data service by the end of the month. This according to an announcement that was made at the start of the week where the firm also said it had partnered with Brave New Coin a blockchain based data and research firm that is based in New Zealand.

Nasdaq also noted that both the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) are going to offer real-time information on its consolidated data feed, the Nasdaq Global Index Data ServiceSM (GIDS).

The data on display will be refreshed after every thirty seconds. Also, both indices will offer a real-time spot or reference rate for the price of a single Bitcoin and a single Ethereum.

The firm added that the Bitcoin and Ethereum indices will also be quoted in US dollars and will be “based on the most liquid ends of their markets.”

The stock exchange also added:

“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 two indices will be calculated using a method that has been “independently audited” against the principles of the International Organization of Securities Commissions (IOSCO).

The New York-based stock exchange has lately been very active within the crypto and blockchain space. Last month the company led a $20 million Series B funding round for Symbiont an enterprise blockchain startup.

Also, last November it was revealed that the exchange had partnered with VanEck an investment firm so that they could bring a regulated crypto 2.0 futures contract to the market this year.

What’s your take on Nasdaq adding Bitcoin and Ethereum indices? Share your thoughts in the comment section below.

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coinmag

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

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