Nasdaq will Add Bitcoin and Ethereum Indices Before February’s End

Posted on: February 12, 2019

Stock exchange giant Nasdaq has announced they’ll be adding indices for bitcoin and ethereum to their global data service before February’s end.

Nasdaq made the announcement on Monday the 11th that it’s partnered with a New Zealand-based blockchain data and research firm called Brave New Coin to offer information on the two new indices beginning February 25th.

The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) will offer “real-time” information on the Nasdaq Global Index Data ServiceSM (GIDS), its consolidated data feed, Nasdaq said.

Specifically, the BLX and ELX indices will offer a “real-time spot or reference rate” for the price of 1 bitcoin (BTC) and 1 ethereum (ETH) respectively, quoted in USD, and “based on the most liquid ends of their markets.” The data will be refreshed at a frequency of thirty seconds.

Nasdaq said both the indices are calculated using a methodology that has been “independently audited” against the International Organization of Securities Commissions (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 exchange operator added.

Nasdaq has been very active in the crypto and blockchain space, including investors in industry startups. Last month, the firm led a $20 million Series-B funding round of enterprise blockchain startup Symbiont.

Back in November, it was revealed that Nasdaq has partnered with investment management firm VanEck to “bring a regulated crypto 2.0 futures-type contract” to the market in 2019, though no additional details have been revealed since then.