News
NYSE partners with Coindesk to track Bitcoin spot prices
The New York Stock Exchange (NYSE) has partnered with CoinDesk to track Bitcoin spot prices. This collaboration aims to connect traditional finance with cryptocurrency and offer investors ways to interact with digital assets. The partnership features cash-settled index options that track the CoinDesk Bitcoin Price Index (XBX).
Jon Herrick, Chief Product Officer of NYSEsaid, “While traditional institutions and everyday investors are demonstrating their broad enthusiasm for the recent approval of bitcoin spot ETFs, the New York Stock Exchange is excited to announce its collaboration with CoinDesk Indices. Following regulatory approval, These option contracts will offer investors access to an important liquid and transparent instrument risk management tool.”
XBX-linked options contracts allow users to access an avenue for managing risk and exposure to Bitcoin price movements. While the development of these option contracts is ongoing, they are subject to regulatory approvals to ensure compliance with relevant laws and regulations.
XBX is a benchmark index for monitoring Bitcoin spot prices. With approximately $20 billion in managed ETF assets tied to XBX, the index shows the value of Bitcoin in real time on various cryptocurrency exchanges. Its continuous calculation and publication occurs once per second.
Late last year, CoinDesk was acquired by Bullish, a company led by Tom Farley, former president of the New York Stock Exchange. The acquisition positioned the cryptomedia publication as a standalone subsidiary within Bullish, safeguarding its identity and editorial operations while benefiting from financial support for expansion.
Acquisition by Bullish
Kevin Worth, CEO of CoinDesk, expressed excitement about the partnership. He highlighted the potential for product development and expansion in the burgeoning cryptocurrency economy. With Bullish’s financial backing, CoinDesk said it will take advantage of opportunities in media, events and indices.
However, in the course of the acquisition, CoinDesk’s parent company, Digital Currency Group, faces legal challenges. Last year, a lawsuit filed by the New York attorney general alleged fraudulent practices and attempts to hide significant losses, implicating DCG along with other cryptocurrency giants such as Gemini and Genesis.
The New York Stock Exchange (NYSE) has partnered with CoinDesk to track Bitcoin spot prices. This collaboration aims to connect traditional finance with cryptocurrency and offer investors ways to interact with digital assets. The partnership features cash-settled index options that track the CoinDesk Bitcoin Price Index (XBX).
Jon Herrick, Chief Product Officer of NYSEsaid, “While traditional institutions and everyday investors are demonstrating their broad enthusiasm for the recent approval of bitcoin spot ETFs, the New York Stock Exchange is excited to announce its collaboration with CoinDesk Indices. Following regulatory approval, These option contracts will offer investors access to an important liquid and transparent instrument risk management tool.”
XBX-linked options contracts allow users to access an avenue for managing risk and exposure to Bitcoin price movements. While the development of these option contracts is ongoing, they are subject to regulatory approvals to ensure compliance with relevant laws and regulations.
XBX is a benchmark index for monitoring Bitcoin spot prices. With approximately $20 billion in managed ETF assets tied to XBX, the index shows the value of Bitcoin in real time on various cryptocurrency exchanges. Its continuous calculation and publication occurs once per second.
Late last year, CoinDesk was acquired by Bullish, a company led by Tom Farley, former president of the New York Stock Exchange. The acquisition positioned the cryptomedia publication as a standalone subsidiary within Bullish, safeguarding its identity and editorial operations while benefiting from financial support for expansion.
Acquisition by Bullish
Kevin Worth, CEO of CoinDesk, expressed excitement about the partnership. He highlighted the potential for product development and expansion in the burgeoning cryptocurrency economy. With Bullish’s financial backing, CoinDesk said it will take advantage of opportunities in media, events and indices.
However, in the course of the acquisition, CoinDesk’s parent company, Digital Currency Group, faces legal challenges. Last year, a lawsuit filed by the New York attorney general alleged fraudulent practices and attempts to hide significant losses, implicating DCG along with other cryptocurrency giants such as Gemini and Genesis.