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Surprise move when Nasdaq adds Bitcoin
The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) will offer “real-time” information on the Nasdaq Global Index Data ServiceSM (GIDS), according to Nasdaq. In the case of the BLX and ELX, Nasdaq will update the prices of 1 BTC and 1 ETH every 30 seconds.
Will that be quick enough for the savvy traders?
The news announced by Nasdaq, the world’s second largest stock exchange, on its website on Monday 11 February.
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. 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.
The indexes are offered in collaboration with Brave New Coin, which has no links with the Brave browser. Moreover Brave New Coin offers various services related to the cryptocurrency market. The company’s indices program offers investors reliable information that can be used to make technical analyzes, among other things.
That the Nasdaq offers the two indexes can be seen as the first step of crypto on the traditional market. Since the Nasdaq is the second largest stock exchange in the world, many investors will get acquainted with the Bitcoin and Ethereum indexes and thus get familiar with cryptocurrency.
Some last words
The indexes should not be confused with ETFs, which are other investment instruments. In fact these indices only provide the latest information about the two cryptocurrencies.
Now that the world will get to know about Bitcoin & Ethereum, will they soon start collecting airdrops?
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