The Nasdaq stock exchange has shared a relevant piece of news in an online statement it will start offering real-time data on two crypto market-related indices — the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX).
Both 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,” — Shared Nasdaq in the notice.
According to the stock exchange the indices obtain data from multiple crypto exchanges and provide a single price for both Bitcoin and Ethereum — a method that has been checked by independent auditors.
The indices will join the exchange’s indexes platform, which includes the Nasdaq Composite or the Nasdaq 100 among many others, on February 25.
Why it is important
- Nasdaq is the world’s second largest stock exchange by capitalization, right after the New York Stock Exchange (NYSE). This initiative of introducing cryptocurrencies to investors generally focused on the conventional stock market may contribute to drive crypto mainstream adoption.
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