On the 25th of February, the Nasdaq will launch two new indices that will be tracking cryptocurrency prices. The indices will show the value of Bitcoin and Ethereum.
The Nasdaq, the world’s largest exchange company, announced that Bitcoin and Ethereum indices will soon be available on Nasdaq’s Global Index Data Services (GIDS). The indices — the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) — will offer real-time price updates ever thirty-seconds.
The indices are to be added by the end of the month, on the 25th of February, in collaboration with New Zealand blockchain data and research firm Brave New Coin. The official announcement:
“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.
Furthermore, according to the Nasdaq:
“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.”
This news might feel like nothing special, but a year ago nobody would have thought about the Nasdaq doing anything with Bitcoin or other digital assets. The news that big players like the Nasdaq are moving more and more towards adopting the cryptocurrencies, gives hope for the future.
In January, Adena Friedman, president and CEO of Nasdaq, stated that she believes that Bitcoin could become a major world currency in the future.