The proposed New York Stock Exchange (NYSE: ICE) and Coindesk collaboration aims to harness XBX, the longest-operating spot bitcoin index, which is the benchmark for $20 billion in exchange-traded fund (ETF) assets under management (AUM). The index represents the real-time spot price of bitcoin (BTC), denominated in U.S. dollars, and is calculated across various cryptocurrency exchanges every second of the day.
“As traditional institutions and everyday investors are demonstrating their wide-ranging enthusiasm for the recent approval of spot bitcoin ETFs, the New York Stock Exchange is excited to announce its collaboration with Coindesk Indices,” said Jon Herrick, the chief product officer at NYSE. “Upon regulatory approval, these options contracts will offer investors access to an important liquid and transparent risk-management tool,” the NYSE executive added.
