Bitcoin and Ethereum Indices go live on Nasdaq!
A great move from the leading tech market that will draw new players, while adding prestige to the crypto market
Nasdaq is now sending real-time Bitcoin and Ethereum index level information on its Global Index Data ServiceSM (GIDS).
Brave New Coin’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) launched on Monday, a week after Nasdaq announced it would add the new indexes to its data suite of 4,000 indices.
Nasdaq, the leading benchmark for US technology equity trading and indexing, on-boarded the BLX and ELX to increase price transparency in the crypto markets.
The BLX is an aggregate of Bitcoin spot prices on six of the biggest exchanges, while data for the ELX dates back to July 2015, around the time of the genesis of Ethereum.
Brave New Coin CEO Fran Strajnar says the audited crypto indices will provide pricing benchmark information for crypto traders as the market still shows significant prices disparities between exchanges and countries.
Such a move from the leading technological market of Wall Street is considered extremely improtant for the crypto market. Having major Bitcoin and Ethereum indices up for the world to see, next to the tech behemoths of the planet, will not only draw more people (and especially top Wall Street players), but it will add prestige to the digital coin market.