Nasdaq announced in an alert on their website that it has partnered with New Zealand-based blockchain data and research firm Brave New Coin, and will launch real-time indices for both Bitcoin and Ethereum, a move that will make pricing easier.
According to Nasdaq, “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’. The real-time price updates at thirty-second intervals and will use Nasdaq’s Global Index Data Service (GIDS).
The alert stated: “Both indices are calculated using a methodology that has been independently audited against key IOSCO principles. 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.”
This is not the first foray into the crypto world by Nasdaq. Last year, they partnered with the investment management firm VanEck to launch a set of “transparent, regulated and surveilled” digital assets products. BLX and ELX will be joining 40,000 other Nasdaq indexes, including the likes of the Nasdaq 100 and Nasdaq Composite. The indexes will go live on Nasdaq on February 25.
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