Nasdaq to Add Bitcoin and Ethereum Indices to Its Global Data Service

News and Analysis

As a result of a partnership with New Zealand-based Brave New Coin, stock exchange operator Nasdaq is adding Bitcoin (BTC) and Ethereum (ETH) indices to its global data service later this month.

The brief announcement was made on the company’s web-site this Monday, with an effective commencement date of February 25.

“Nasdaq, through its data dissemination relationship with Brave New Coin, will send real-time Bitcoin and Ethereum index level information on the Nasdaq Global Index Data Service (GIDS).”

The indices will be listed as Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX). Each will provide spot or reference rates based upon 1 BTC or 1 ETH in real time, updated every 30 seconds. Prices will be quoted in US dollars and will be based on liquid parts of the market (there may be outlying market prices which are not backed with any depth of liquidity).

Nasdaq said both 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.

Both indices are currently listed on Brave New Coin and reference underlying pricing data from leading exchanges such as Kraken, Bitfinex, Coinbase, Bitstamp, Poloniex and Gemini.

In November 2018, the world’s second largest stock exchange Nasdaq announced partnership with U.S. investment firm VanEck aiming at bringing a host of new regulated cryptocurrency financial products to market, including Bitcoin futures.

This followed September reports that Nasqdaq was preparing to add tools to predict the price movements of crypto assets to its Analytics Hub.

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