E Nasdaq Offering BTC And ETH Indexes Through BNC

It has been announced that Nasdaq one of the leading exchanges in the world will be adding two more indexes tied to cryptocurrencies. The Indexes will naturally be added to their Nasdaq Global Index Data ServiceSM.

Starting from February 25th, Nasdaq will start sending real-time Index level information on BTC (Bitcoin) and ETH (Ethereum). Both of these indexes will be going through the Brave New Coin platform, which is a Blockchain asset market data company.

The names of both of these indexes will be different from their original abbreviations, so investors shouldn’t get too confused. They will be called the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX). The indexes will work as a real-time spot reference rate for the price of 1 unit of Bitcoin and Ethereum.

It was announced by Nasdaq that the spot rates will be quoted in United States Dollars as they are the most recognizable and easily calculatable indicators. The frequency of the rates will be a minimum of thirty seconds respectively.

This has been one of the best decisions from Nasdaq as it is guaranteed to bring in more investors to the platform. And what’s even more important, it will bring in young customers, holders of Bitcoin and Ethereum. Other countries are also trying to mimic the way Nasdaq is handling cryptocurrencies, however, the only entities able to do it so far ar the South African Forex brokers who respectively increased their efforts on Crypto CFDs.

Interest mounting for cryptos

Many would believe that cryptocurrencies would be a disgrace to adopt for a traditional financial exchange. However, Nasdaq sees something in these digital assets that some critics fail to perceive. Nasdaq’s interest has been quite diverse, and the listing of these Indexes is definitely not a first involvement in the Blockchain. Nasdaq has previously invested in crypto companies, supplied some crucial technology and even plans to launch BTC futures.

The most important in their plans is the launch of BTC Futures of course. It is believed that it will revolutionize the crypto market and bring it enough strength to rival some of the notorious exchanges around the world. According to the reports, Nasdaq is planning to implement these Futures in the first quarter of 2019. Since we’re in the middle of February we might have to wait no more than 2 weeks to finally hear about the announcement. The only thing Nasdaq needs to do is to receive the approval of the CFTC ( U.S. Commodity Futures Trading Commission).

 Learn more about South African Forex brokers here.

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