Nasdaq Stock Exchange will start offering BTC and ETH indexes

The Nasdaq stock market will begin to offer information in real time on two new indexes linked to the cryptocurrency market: the Bitcoin core and the ethereum. Both indices will be included in the existing index platform of the stock exchange as of February 25.

BLX and ELX indexes will be captured from different Exchanges

The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) “will provide a cash or reference rate in real time for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of each, “Nasdaq said inan online statement published on February 11.

According to the statement, both “BLX and ELX operate by capturing data from multiple exchanges to provide a single price point for BTC and ETH, which helps operators enter and exit a certain position.” Nasdaq affirms that the methodology has been verified by independent auditors.

“The BLX is one of the BTC indexes with the highest reference among crypto traders and has be encalculated since 2010. Also, the ELX has been calculated since 2014,” the Exchange said.

Driving the adoption of conventional cryptography

The two indexes were created by Brave New Coin. The latest Nasdaq move is considered key to introducing cryptocurrency to traditional stock market investors on Wall Street and else where, which drives overall adoption. The stock market has rowed against time to be attracted by cryptographic assets, starting with the publication of analytical reports on Bitcoin and partnering with Vaneck to launch the BTC futures trading in a low market last year.

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

Nasdaq is the second largest stock market in the world by capitalization, just behind the New York Stock Exchange. More than 3,400 companies are listed on the stock exchange, which has a total market value of $ 10 billion. It is expected that the cryptocurrency will benefit from the expansive scope of the exchange. The acceptance by the institutional investors that dominate the Nasdaq trade is considered by some as an important step towards the integration of virtual currencies, as well as the increase in adoption.

The ecosystem ofcryptocurrencies starts the path of new experiences, is to visualize movements in the near future, blockchain-bitcoin technology, provides support from decentralization, time will tell where these new ways of doing business are heading. It iswaiting for new announcements.

Reference: news.bitcoin.com

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and / or services. This press release is for informational purposes information does not constitute investment advice or an offer to invest.

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