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NASDAQ Soon to Add Two Cryptocurrency Tracking Indices

By Tyler Smith – Cryptocurrency Investor

The second largest stock market, Nasdaq, is reportedly to increase its cryptocurrency offering with Bitcoin and Ethereum Indices tracking the assets. These indices will provide real-time updates on the price of the assets every 30 seconds for those clients using Nasdaq’s Global Index Data.

The Bitcoin Liquid Index (BLX) will be tracking Bitcoin with data from the firm Brave New Coin. Users will be provided with an insight to the most liquid markets to buy and sell Bitcoin tracking the price of a whole coin.

Nasdaq can also be used to help decide when to buy Ethereum by tracking its price with the Ethereum Liquid Index (ELX). These two cryptocurrencies were chosen due to their popularity and how developed the projects are. 

Many cryptocurrency investors believe more products on the market around the asset will help drive adoption as institutions may start to invest and buy crypto. Nasdaq are introducing the indices due to progressive interest in crypto from investors. They are one of the financial institutions welcoming the adoption of cryptocurrencies and believes it “deserves an opportunity to find a sustainable future in our economy” 

We will now wait and see Nasdaq’s progression to understand how they are adopting cryptocurrency within their traditional financial systems. Nasdaq are reported looking to release a Bitcoin futures product following the submission of the Chicago Mercantile Exchanges (CME) and the Chicago Board Options Exchanges (CBOE) futures product.

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