As a seasoned financial analyst with a deep understanding of the evolving digital asset market, I am thrilled to witness the New York Stock Exchange (NYSE) joining the cryptocurrency fray by listing index options based on the CoinDesk Bitcoin Price Index (XBX). This move is yet another testament to the growing acceptance of digital assets within traditional finance circles.
The New York Stock Exchange intends to offer index options based on the value of bitcoin (BTC). This move signifies that yet another established player in conventional finance is entering the cryptocurrency market.
As a researcher studying financial derivatives, I can tell you that cash-settled derivatives will follow the CoinDesk Bitcoin Price Index (XBX). This index is managed by my colleague’s organization, CoinDesk Indices, which is the corporate sibling of the news outlet where I work. The XBX currently serves as the benchmark for approximately $20 billion in assets under management for exchange-traded funds.
Traditional financial institutions and individual investors are showing great interest in the recent green light given to spot bitcoin ETFs. In an exciting development, the New York Stock Exchange (NYSE) has announced a partnership with CoinDesk Indices. Once approved by regulators, these options contracts will provide investors with a valuable tool for managing risk in the bitcoin market.
As a researcher studying the evolution of cryptocurrency investment vehicles, I can share that Bitcoin derivatives played a pivotal role in preparing the groundwork for this year’s debut of spot Bitcoin Exchange-Traded Funds (ETFs) on the New York Stock Exchange (NYSE). These ETFs have since become one of the most successful launches in history.
Starting from the year 2023, Intercontinental Exchange (ICE) through its subsidiary ICE Futures Singapore, formed a partnership with CoinDesk Indices. Under this collaboration, ICE Futures Singapore adopted XBX as the index for settling monthly contracts of CoinDesk Bitcoin Futures in Singapore.
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2024-05-29 15:39