The Nasdaq stock exchange is set to launch 2 new indices for Bitcoin and Ethereum. Called the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX), they are a result of a data dissemination collaboration with Brave New Coin, a data and research company.
The announcement was made via Nasdaq’s website. It reads,
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. 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.
The indices will begin offering real-time information to recipients on February 25. Price updates occur every 30 seconds and use Nasdaq’s Global Index Data Service (GIDS).
This is not Nasdaq’s first efforts in the cryptocurrency space. In recent months, several positive takes have emerged from the stock exchange’s decisions. Vice President of Communications Joseph Christinat confirmed that Bitcoin Futures contracts would launch at some point in the first half of 2019, also noting how Nasdaq is very much interested in crypto,
We got into the blockchain game five years ago, and when the technology first popped up we just leaned out of the window and shouted “hey come over here” right at it.
US Investment firm Van Eck – keen on its own Bitcoin ETF – has also partnered with Nasdaq to release “transparent, regulated” digital asset products.
Lastly, but certainly not insignificant, is the fact that Nasdaq has offered its proprietary surveillance technology to 7 carefully vetted exchanges. The technology allows officials to scan for fraudulent trading and/or manipulation.
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