(Finance) – Il New York Stock Exchange (NYSE)part of Intercontinental Exchangeannounced that he is collaborating with CoinDesk Indices to launch options on indices that track CoinDesk Bitcoin Price Index (XBX), the longest-running spot Bitcoin index.
ICE and NYSE intend to work with CoinDesk Indices and relevant regulatory agencies to develop specific product offerings. Last year, ICE Futures Singapore partnered with CoinDesk Indices to upgrade its Bitcoin futures contracts, CoinDesk Bitcoin Futures (BMC), to use XBX for monthly contract settlement.
Currently the benchmark for $20 billion in ETF assets under management, XBX tracks the spot price of Bitcoin, denominated in US dollars, in real time across multiple cryptocurrency exchanges. XBX is calculated and published once per second, 24 hours a day, 365 days a year.
“While traditional institutions and everyday investors are demonstrating their broad enthusiasm for the recent approval of spot bitcoin ETFs, the New York Stock Exchange is thrilled to announce its partnership with CoinDesk Indices,” he said. Jon Herrick, Chief Product Officer of the New York Stock Exchange – Following regulatory approval, these options contracts will offer investors access to an important liquid and transparent risk management tool.”