Posts Tagged ‘NYSE’

The New York Stock Exchange Launching a Bitcoin Price Index (NYXBT)

19, May 2015

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An interesting announcement coming straight from the New York Stock Exchange (NYSE) about the lauch of the first exchange-calculated and disseminated bitcoin index – NYSE Bitcoin Index (NYXBT). The new NYXBT Index will represent the U.S. dollar value of one bitcoin unit based upon actual transactions occurring on select bitcoin exchanges which have been evaluated and meet NYSE’s quality standards. The NYSE Bitcoin Index will initially feature data from transactions from the Coinbase Exchange, an exchange that NYSE made a minority investment in earlier this year. As you can see in this Ally Invest review, the broker is a great choice for long-term investors.

“Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class,” said NYSE Group President Thomas Farley. “As a global index leader and administrator of ICE LIBOR, ICE Futures U.S. Dollar Index and many other notable benchmarks, we are pleased to bring transparency to this market. By combining our technology infrastructure with our expertise in index calculation and data management, we will continue to launch complementary products based on our rigorous standards and proprietary index methodology.”

NYXBT utilizes a unique methodology that relies on rules-based logic to analyze a dataset of matched transactions and verify the integrity of the data to ultimately produce an objective and fair daily value for one bitcoin in U.S. Dollars as of 16:00 London time. The index will be published within a short period of that time via the widely-distributed NYSE Global Index Feed (GIF) as well as made publicly available for an initial period on the NYSE index page.

– To read more details about the NYSE Bitcoin Index (NYXBT) methodology (PDF)…

Coinbase Raises $75 Million USD Investment Funding

20, Jan 2015

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The Bitcoin payment processor Coinbase has announced that they have raised $75 million USD in Series C financing, the largest funding round to date for a Bitcoin company, bringing their total capital raised to $106 million US dollars. What is even more interesting however is the companies that have invested in Coinbase this time and not only the serious investment being made. Apart from some of the existing investors the new investors include USAA, BBVA, The New York Stock Exchange, and NTT DoCoMo – Japan’s largest mobile telecommunications operator. There are also personal investments from former Citigroup CEO Vikram Pandit and former Thomson Reuters CEO Tom Glocer. It is interesting to see that financial institutions and other large companies are starting to show serious interest in Bitcoin, making major investments is companies dealing with crypto currencies. Great news not only for Coinbase, but also something good for BTC since the start for 2015, something that was really needed after the not so great beginning of the year for crypto currencies.


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