Nasdaq’s New BTC and ETH Indices Providing Real-Time Price Data has Launched

Nasdaq’s New BTC and ETH Indices Providing Real-Time Price Data has Launched


According to a recent report, indices for both Bitcoin and Ethereum have been listed on Nasdaq stock exchange’s platform which currently consists 4,000 global indices. Based on the most liquid ends of their markets, Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index ( ELX) make available real-time information on the price of 1 BTC and 1 ETH in terms of the dollar. Both indices were created by Brave New Coin and are programmed to refresh every 30 seconds.

Several Exchanges Provide Data

Nasdaq revealed that for the BLX and ELX to function, they collect data from several exchanges to provide a single price point for bitcoin core and there which assist traders to get in and out of a specific position. Both Nasdaq and Brave New Coin claim that this method has been tested by freelance auditors and against key International Organisation of Securities Commission’s ( IOSCO) principles.

BNC said that:
“The methodology adds to the transparency of pricing crypto assets, a concern that has prevented regulators in approving retail products,”

While announcing the virtual currency indices, Nasdaq said that: “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.”

Making Crypto Available for Mainstream Audience
This latest move by Nasdaq is viewed as very important in the introduction of cryptocurrency to traditional stock market investors on Wall Street and elsewhere thereby promoting its adoption. Nasdaq has dived into crypto assets starting with the publication of analytical reports on Bitcoin and forming a partnership with Vaneck to start BTC futures trading despite the fall in price last year.
The Bitcoin and the ethereum indices will be joining the several dozen of Nasdaq’s indices which includes, the Nasdaq 100, Nasdaq Composite which is its main index, via its Global Index Data Service, a real-time feed that combines all Nasdaq indexes and ETF valuation data, including third-party partner data.