Nasdaq Plans To Add Bitcoin And Ethereum Indices To Global Data Service

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Nasdaq Plans To Add Bitcoin and Ethereum Indices to Global Data Service

Nasdaq, the global electronic marketplace for the stock exchange is adding indices for two cryptocurrencies – Bitcoin and Ethereum on its global data service later this month.

On Monday, Nasdaq announced that it has joined hands with Brave New Coin, a blockchain data and research company based in New Zealand to give out information on the two newly added indices from 25th February onwards.

Nasdaq mentioned in its consolidated feed that both the indices, namely Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) will be on Nasdaq Global Index Data Service (GIDS) providing real-time information to crypto customers.

To simplify it, BLX and ELX will display the reference rate for the price of one Bitcoin and one Ethereum, respectively, in US dollars. This real-time spot will be according to the market’s most liquid ends. The information will be refreshed after every 30 seconds.

Nasdaq mentioned that the methodology that is utilized to calculate both indices is audited independently as per the standards of International Organisation of Securities Commissions (IOSCO).

The exchange operator further said, “Bitcoin Liquid Index (BLX) is among the widely-used BTC indices and has been calculated back to the year 2010. Similarly, ELX has been calculated back to the year 2014.”

Nasdaq has been operating in the crypto and blockchain market quite actively. It has also invested in startups like Symbiont. In January this month, the company led a funding round of $20 million for the enterprise blockchain startup.

Last year in November, it came to surface that Nasdaq has joined hands with VanEck, an investment management company to enforce a “regulated crypto 2.0 futures-type contract” in the crypto space. Since then, no more information concerning the same has been revealed.