The Nasdaq Stock Exchange will begin offering real-time information on two new indices related 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 25th.

Read also: Indonesian Futures Regulator Defines New Rules for Cryptographic Assets

BLX and ELX indexes capture data from multiple exchanges

The Bitcoin Liquid (BLX) and Ethereum Liquid (ELX) indices "will provide a spot price or real time benchmark for the price of 1 BTC and 1 ETH respectively, quoted in USD and based on the most liquid end their market. markets, "said the Nasdaq in a online statement published on February 11th.

Nasdaq Stock Exchange will start offering BTC and ETH indices

According to the statement, "BLX and ELX are collecting data from multiple stock exchanges to provide a single price point for BTC and ETH, which helps traders get in and out of a given position." Nasdaq says the methodology has been verified. by independent auditors.

"The BLX is one of the most widely referenced BTC indices among crypto traders and was calculated until 2010. Similarly, the ELX was calculated until 2014" said the stock market.

Adoption of the crypto general public

Both indices were created by Brave New Coin. The latest Nasdaq initiative is seen as essential for introducing cryptocurrency to traditional equity investors on Wall Street and elsewhere, thereby promoting adoption by the media. The stock market swam against the trend by being attracted to cryptographic assets, starting with the publication of analytical reports on Bitcoin and partnering with Vaneck to launch BTC futures in a market plummeting last year.

Nasdaq Stock Exchange will start offering BTC and ETH indices

The two new indices join dozens of Nasdaq indices, including the Nasdaq Composite, its main index, and the Nasdaq 100, through its Global Index data service. The Data Service is a real-time feed 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 in terms of capitalization, behind the New York Stock Exchange. More than 3,400 companies are listed on the stock exchange, with a total market value of $ 10 trillion. Cryptocurrency should benefit from the extended scope of the exchange. The acceptance by institutional investors that dominate Nasdaq trading is viewed by some as an important step towards the integration of virtual currencies as well as towards increased adoption.

What do you think of the inclusion of the BTC and ETH indices on the Nasdaq Stock Exchange? Let us know in the comments section below.


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Jeffrey Gogo

Jeffrey Gogo is an award-winning financial journalist based in Harare, Zimbabwe. Former Deputy Editor of Zimbabwe Herald, the country's largest daily, Gogo has more than 15 years of experience in the fields of financial markets, business economics and news. He met bitcoin for the first time in 2014 and started covering the cryptocurrency markets in 2017