The Nasdaq stock exchange has officially listed bitcoin core and ethereum indices on its platform of 4,000 global indices starting Monday, Feb. 25. The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) provide real-time information on the price of 1 BTC and 1 ETH in dollar terms, based on the most liquid ends of their markets. Both indices, created by market data company Brave New Coin, will be refreshed every 30 seconds.
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Crypto Indices to Capture Data From Multiple Exchanges
According to Nasdaq, the BLX and ELX work by capturing data from multiple exchanges to provide a single price point for bitcoin core and ethereum which “helps traders get in and out of a given position.”
Nasdaq and Brave New Coin (BNC) claim the methodology has been verified by independent auditors and against key International Organisation of Securities Commissions (IOSCO) principles. “The methodology adds to the transparency of pricing crypto assets, a concern that has prevented regulators in approving retail products,” said BNC in a statement.
Announcing the cryptocurrency indices two weeks ago, Nasdaq stated:“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.”
Nasdaq’s latest move is seen as crucial to introducing cryptocurrency to traditional stock market investors on Wall Street and elsewhere, thereby driving mainstream adoption. The stock exchange has swam against the tide in being drawn to crypto assets, starting with publishing analytical reports on Bitcoin and partnering with Vaneck to launch BTC futures trading in a falling market last year.
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The two new indices
