Nasdaq Will Provide Real-Time Bitcoin and Ethereum Index Information

Nasdaq Will Provide Real-Time Bitcoin and Ethereum Index Information

Nasdaq, the second-largest stock market in the world, will bolster its crypto offering with new Bitcoin and Ethereum tracking indices on Feb. 25th. The Indices will offer real-time price updates, in thirty-second intervals, on the two cryptocurrencies for clients using Nasdaq’s Global Index Data Service.

The two indices are the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX), both the product of firm Brave New Coin:

“The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) are each designed to 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,” NASDAQ explained in its announcement.

Furthermore, Nasdaq describes the BLX and ELX as some of the oldest and widely used indices for Bitcoin and Ethereum:

“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 announcement added.

These latest indices being offered by Nasdaq represent an additional interest in cryptocurrencies from investors. Nasdaq has shown to be quite amenable to cryptocurrencies, with Adena Friedman, president and CEO of Nasdaq Inc, stating:

“[Cryptocurrency] is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy.”

Nasdaq has even gone so far as to begin the process of launching their own Bitcoin futures product in the first half of this year. This offering follows those from the CME and CBOE, which launched in December 2017.

Many crypto enthusiasts feel that lower barriers of entry for institutional investors will spur the cryptocurrency back into bullish territory. When bitcoin futures launched from both the CBOE and CME bitcoin trading volumes increased markedly.

However, since the launch of these instruments, the market sentiment and cryptocurrency prices still remain relatively depressed compared to early 2018.

That said, NASDAQ’s interest and decisions to feature information about cryptocurrency further normalizes cryptocurrencies and could help spur institutional investors to explore this new market. It’s a small step that legitimizes the sector.

The post Nasdaq Will Provide Real-Time Bitcoin and Ethereum Index Information appeared first on CryptoSlate.

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