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Cryptocurrencies are now accepted worldwide and have emerged from the underground for a long time. New significant steps are being taken. Today, the New York Stock Exchange announced a new partnership. Utilizing CoinDesk indices for products, the exchange is further strengthening the ties between the traditional finance world and crypto.
NYSE Cryptocurrencies
Intercontinental Exchange, one of the world’s leading technology and data providers, will now launch cash-settled index options tracking the CoinDesk Bitcoin Price Index (XBX). This partnership with CoinDesk Indices follows the SEC’s approval of traditional investment products for Ethereum and Bitcoin. ICE and NYSE will work together with CoinDesk Indices and regulatory bodies to develop specific product offerings.
In other words, we now boldly see the U.S. version of the step taken by ICE Futures Singapore last year. New York Stock Exchange Chief Product Officer Jon Herrick said in a recently released announcement;
“As traditional institutions and everyday investors show widespread enthusiasm for the recent approval of spot bitcoin ETFs, the New York Stock Exchange is excited to announce its collaboration with CoinDesk Indices. Following regulatory approval, these option contracts will provide investors with significant liquid and transparent risk management tools.”
More liquidity, more interest, and more investors will help further strengthen cryptocurrencies.
