Crypto on Wall Street
Not all of Wall Street thinks Cryptocurrency is the “devil” or “gambling”, one very well-known exchange in particular is paving the path for mainstream adoption on Wall Street.
The NASDAQ stock exchange has shown it a fascination for cryptocurrencies from publishing reports on bitcoin analysis to launching crypto futures. If those don’t intrigue you, this may. NASDAQ stock exchange added Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) to their trading services.
The indices were created by Brave New Coin, and will provide a “real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets” as stated by the company.
Its functionality is quite simple. BLX and ELX work by capturing data from multiple exchanges to provide a single price point for BTC and ETH. This would evidently be beneficial to traders to get in and out of a given position.
Both these indices will be featured on NASDAQ’s GIDS (Global Index Data Service) feed along with their other 40,000 indices, providing real-time data from NASDAQ, ETF valuation and, third-party partners.
These efforts will surely drive more institutional investors along with skeptics to the crypto ballpark.