An XRP index from Brave New Coin
NASDAQ has recently released liquidity indices for both Ethereum (ELX) and Bitcoin (BLX). It was Wall Street’s first glance at cryptocurrencies on a major stock exchange, and it won’t be the last.
Brave New Coin (BNC) is in its final stages of rolling out its Ripple XRP liquidly index (RLX). There is no confirmation that RLX will be featured alongside BLX and ELX on NASDAQ, which holds over 40,000 real-time indices through their Global Index Data ServiceSM (GIDS). However, I have a strong feeling it is.
The CEO of Brave New Coin, Fran Strajnar, that this will be the wave that makes crypto more Institutional friendly. Strajnar stated;
“The crypto derivative wave is inevitable. Once custody was solved, first with Fidelity’s announcements last November, and now with indices that align with IOSCO principles being available through the NASDAQ, there’s going to be a rush to produce all manner of financial instruments, which the institutional users have been asking for, for almost 3 years now.”
He also stated;
“The LX program was born out of a need for clear and transparent price discovery of liquid cryptographic assets and is a bigger need today than it was back in 2015 when we started this program.”
Hmmmmm, pure need indeed! The type of need that both institutional investors and traditional traders require in order to understand, trust, and properly comprehend cryptocurrency.