NASDAQ Adopts Bitcoin And Ethereum Indices Into Global Data Services

NASDAQ stock Exchange to add Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) to its global data services later this month.


A data and research company in the blockchain and digital asset industry, Brave New Coin, creates new Bitcoin and Ethereum indices. These indices will join 40,000 Nasdaq’s indexes through GIDS data feed. On Monday the company announced its partnership with New Zealand-based Blockchain data and Brave coin. As they offer information on these two indices starting from Feb 25.

Also, NASDAQ confirms that pricing methodology for both the indices meets the International Organisation of Securities Commissions (IOSCO) principles. Hence, ensuring markets are fair, efficient and transparent. As per the alert published,

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.

The exchange operator added,

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.

Basically,  this move is another example of how NASDAQ is eagerly embracing cryptocurrencies as a tool to expand trading services. Financial regulators effectively sought reliable price indices for crypto markets. While 2018 was full of Bitcoin ETF applications, all of them are under rejection — partly due to a lack of transparent price sourcing.

NASDAQ is one of the premier exchange for institutional investors. Hence the more they shine a spotlight on Bitcoin, Ethereum and major cryptocurrencies down the road, the more investors may flush money into the cryptocurrency markets through these traditional stock trading channels.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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