Bitcoin Good News from the New York Stock Exchange: New Products Are Coming
The New York Stock Exchange (NYSE) announced that it will develop new products for cryptocurrency markets.
NYSE has begun working with CoinDesk Indices to establish cash-settled index options mirroring the CoinDesk Bitcoin Price Index (XBX).
XBX tracks the spot price of Bitcoin in US Dollars in real time based on several different exchanges. XBX, published every day and hour of the year, is calculated every second.
“The New York Stock Exchange is excited to announce its collaboration with CoinDesk Indices as traditional institutions and day investors continue to demonstrate their enthusiasm for the recently approved spot Bitcoin ETFs,” said NYSE CPO Jon Herrick.
“Once regulatory approval is received, these option contracts will provide investors with an important risk management tool that is liquid and transparent,” Herrick said.
Bitcoin ETFs are currently traded on the NYSE exchange. The SEC also allowed the NYSE to list spot Ethereum ETFs.