CoinDesk Bitcoin Price Index Tracked By NYSE To Launch Cash-settled Index Options 24/7
Key Points:
This is NYSE’s foray into cryptocurrencies, adding another giant from the traditional pool of finance into the mix.
Those derivatives would follow the CoinDesk Bitcoin Price Index, also run by CoinDesk Indices, a benchmark in charge of the administration of some $20 billion in assets under management in exchange-traded funds.
ICE and NYSE would team up with CoinDesk Indices and regulators to come up with product offerings that would suit them. This is not the first time, though, as ICE Futures Singapore had once entered into a partnership with CoinDesk Indices to enhance their Bitcoin futures contracts by adding the XBX for monthly settlements.
The CoinDesk Bitcoin Price Index, which currently watches over $20 billion in ETF assets, monitors the real-time spot price for Bitcoin in U.S. dollars across a number of cryptocurrency exchanges. The price is computed and published every second, around the clock, every day of the year.
The partnership only reflects the continuous relationship between the two organizations recognized as providing access and diversification to investors. CoinDesk Indices, a Bullish subsidiary, is known for its flagship indices in XBX and the CoinDesk 20 Index. Setting the benchmarks for digital asset measurement, trading, and investment, meanwhile, the NYSE, with 232 years of trading technology development, is the world’s largest stock exchange with a market capitalization nearing $39 trillion.
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