Nasdaq Global Data Service to Include Bitcoin and Ethereum Indices

Nasdaq Global Data Service indices Bitcoin Ethereum Cryptocurrency

U.S. stock exchange company Nasdaq has announced it is to include indices for bitcoin and ethereum as part of its global data service for the first time, according to an announcement this week.

The company, which provides real-time market data to financial companies and investors worldwide, will now quote crypto price information as part of its Global Index Data Service, providing real-time price information for these biggest of cryptocurrency markets.

The information will be available on the firm’s consolidated feed, offering a “real-time spot or reference” price in USD through its Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) respectively.

The indices will refresh every 30 seconds, and use a methodology based on and audited against International Organization of Securities Commissions standards.

The news is significant for the cryptocurrency sector by opening the door to more institutional and high-volume investors, many of whom already rely on Nasdaq data feeds for making investment decisions.

While the BLX index has been quoted for some time, the inclusion in the global data service means more investment and financial firms will have access to the data in real time.

Announcing the decision, Nasdaq said the inclusion in its data feed would build on the role of these indices as an authority for bitcoin and ethereum prices.

“The BLX is one of the most widely referenced BTC indices among crypto traders and has been calculated back to 2010. Likewise, the ELX has been calculated back to 2014.”

The move is the latest from Nasdaq within the blockchain space, with the firm notoriously active in its cryptocurrency investments.

In the last few weeks, Nasdaq led the Series B funding round for blockchain startup Symbiont, which raised $20 million. Late last year, Nasdaq partnered with investment group VanEck to deliver “crypto 2.0 futures-type” instruments, expected to be rolled out later in 2019.

The news reflects the growing embrace of the cryptocurrency and blockchain spaces within the mainstream financial world, with companies like Nasdaq at the heart of the global financial and equities systems.

With both bitcoin and ethereum indices to be included in the data feed as standard, the hope among cryptocurrency investors is that this will encourage more institutional money into these markets.