Nasdaq to launch Brave New Coin Bitcoin and Ethereum indices on February 25

Nasdaq is going to launch two new indices tracking cryptocurrency prices this month, Cointelegraph reported.

According to an update on Nasdaq’s website, the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) will be launched on 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),” it said.

BLX and ELX have been designed to provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD. The indices are 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,” Nasdaq added.

In April 2018, Nasdaq CEO Adena Friedman said that Nasdaq could consider becoming a crypto exchange over time. Reports also suggested that Nasdaq was planning to list cryptocurrencies on its platform in 2019.

More recently, Friedman said that Nasdaq is working to boost investors’ trust in cryptocurrencies by offering its technology for trade matching, clearing, and trade integrity to start-up exchanges.