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News

The New York Stock Exchange Announces Collaboration With CoinDesk Indices To Launch Financial Products Tracking Spot Bitcoin Prices

Author: Benzinga Newsdesk | May 29, 2024 08:21am

Developing options contracts tied to the CoinDesk Bitcoin Price Index (XBX)

Contracts would be subject to regulatory approvals

The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced it is collaborating with CoinDesk Indices to launch cash-settled index options tracking the CoinDesk Bitcoin Price Index (XBX), the longest-operating spot bitcoin index.

ICE and the NYSE intend to work with CoinDesk Indices and the relevant regulatory agencies to develop specific product offerings. Last year, ICE Futures Singapore collaborated with CoinDesk Indices to update its bitcoin futures contracts, CoinDesk Bitcoin Futures (BMC), to utilize XBX for its monthly contract settlement.

Currently the benchmark for $20 billion in ETF assets under management, XBX tracks the spot price of bitcoin, denominated in U.S. dollars, in real time across multiple crypto exchanges. XBX is calculated and published once per second, 24 hours per day, 365 days each year.

Posted In: $BTC ICE