Nasdaq to Add Bitcoin and Ethereum Indices Later This Month

American stock exchange Nasdaq plans to launch two new indices tracking crypto prices on February 25th. The company announced the news on its website yesterday.

The indices that will be launched are the Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX). Both will provide real-time price updates every thirty seconds for clients that use Nasdaq’s Global Index Data Service (GIDS).

Both indices were developed by United States blockchain data and research company Brave New Coin.

“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,” explained Nasdaq in their announcement, “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.”

Over the past year, Nasdaq has ramped up their crypto-based products and services. In September of last year, the company started looking into adding cryptocurrency data sets to its market analytics suite, due to the rise in interest surrounding cryptocurrency.

Said Nasdaq’s Head of Alternative Data, Bill Dague, in a quote to Cointelegraph:

“… given [an] abundance of interest, we are exploring cryptocurrency related datasets. Whether or not we launch a crypto-related product remains to be seen.”

In December, Nasdaq confirmed it would launch its own Bitcoin futures in the first half of 2019, although that has yet to occur.

Also, notably, Nasdaq CEO Adena Friedman wrote in a post published on LinkedIn in January that she believed Bitcoin could become a major world currency in future. Although not a tangible development, the implications of her statement are potentially massive.



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