Categories: Market Watch

NYSE Partners With Coindesk for Bitcoin-Tracking Financial Products

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 cryptocy 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.

Last year, similar collaborations saw the launch of updated bitcoin futures contracts by ICE Futures Singapore. The NYSE, an entity under Intercontinental Exchange, Inc., emphasized during the announcement that these new products will provide essential risk management tools for investors in a transparent manner. This initiative, the company explained, marks a continuation of NYSE’s adaptation to digital asset trends, reflecting growing institutional interest in cryptocurrencies.
Terron Gold

Recent Posts

Coinbase Customer Data Exposed in Third-Party Analytics Breach as Exchange Confirms Funds Remain Secure

Coinbase has confirmed that customer contact information and limited transaction data were exposed following a…

1 day ago

Utah Files 14 Criminal Charges Against Kalshi as CFTC Fights States Over Prediction Markets

Utah Attorney General Derek Brown has filed 14 criminal charges against prediction market platform Kalshi…

1 day ago

Polygon and Solana Join Forces to Bring Stablecoin Payments to Banks and Businesses Worldwide

Polygon Labs and the Solana Foundation have announced a major partnership to connect Solana's rapidly…

2 days ago

Bithumb Hack Exposes Sensitive Data of 844 Customers and 715 Employees as South Korea Investigates Cyberattacks

South Korean cryptocy exchange Bithumb has confirmed a cybersecurity breach that exposed sensitive personal information…

2 days ago

Georgia Confirms Anthropic AI Agent Accessed Public Election Data Without Breaching Voter Systems

Georgia Secretary of State Brad Raffensperger has confirmed that an artificial intelligence agent developed by…

3 days ago

Google Unveils Crypto Custody Security Platform for Banks With 2027 Launch Planned

Google Cloud has introduced Google Multi-Party Compute (MPC), a new cryptocy custody security platform designed…

3 days ago