TWO new indices connected to the crypto market will soon be included in NASDAQ Stock Exchange’s platform.
In a statement issued on February 11 by the second-largest stock exchange in the world, NASDAQ announced Bitcoin Core and Ethereum’s entry starting February 25, 2019.
The new indices – the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) – will provide a real-time spot and reference rate priced at 1BTH and 1ETH.
In addition to the tick-messages, recipients would also be getting real time index updates from Nasdaq Global Index Data ServiceSM (GIDS). Index level information will be disseminated by Nasdaq’s data partner Brave New Coin.
Introducing digital assets to the stock market
NASDAQ further stated:
“BLX and ELX work by capturing data from multiple exchanges to provide a single price point for BTC and ETH, which helps traders get in and out of a given position.”
The latest move by NASDAQ is believed to be one way of introducing digital assets to traditional stock market investors.
Since last year, the exchange began publishing reports about Bitcoin and partnered with Vaneck, an investment management firm based in New York, to initiate Bitcoin futures as trading goes through a falling market.
The new cryptocurrency indices will soon be part of the several NASDAQ indices such as the NASDAQ Composite and the NASDAQ 100.
(Jet Encila is a journalist, editor and freelance writer from the Philippines).
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