Nasdaq launches Bitcoin and Ethereum liquidity indices

Nasdaq has launched Brave New Coin's Bitcoin and Ethereum liquidity indices (BLX and ELX) on its platform, which hosts 4,000 global indices

Nasdaq has launched real-time information on two new indices for the crypto market. The Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) are now live on the exchange’s indices platform.

BLX and ELX join the likes of Nasdaq Composite (its main index) and the Nasdaq 100. The new indices will “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,” said Nasdaq in an online statement published earlier this month.

Developed by Brave New Coin

The two indices were developed by Brave New Coin (BNC) and will procure information and data from various exchanges to render a “single price point for both Bitcoin and Ethereum.”

The BLX is an aggregate of Bitcoin spot prices from six of the biggest exchanges: Bitfinex, Bitstamp, Coinbase, Kraken, Gemini, and itBit. Data for the ELX dates back to July 2015, around the time of the genesis of Ethereum.

A family of indices under development

Speaking about the wider program, BNC CEO Fran Strajnar said: “The LX program was born out of a need for clear and transparent price discovery of liquid cryptographic assets and is a bigger need today than it was back in 2015 when we started this program.”

The ‘LX’ family of BNC indices has had its methodology independently audited against key IOSCO (International Organisation of Securities Commissions) regulations.

Following the listing of XRP on Coinbase Pro, BNC has also reported that it is in the “final stages of producing the RLX (Ripple Liquid Index) and is working with a range of market participants to create custom basket indices.”

“We will provide pricing benchmark information for crypto traders as the market still shows significant price disparities between exchanges and countries,” concluded Strajnar.

For more news, guides, and cryptocurrency analysis, click here.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

Previous Article

Bitcoin update: Touch and go!

Next Article

Bart Simpson keeps poking his head in the Bitcoin charts

Read More Related articles