Crypto Mining Blog

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)…