The New York Stock Exchange (NYSE), a prominent player in the global financial market and part of Intercontinental Exchange, Inc. (NYSE: ICE), has announced a collaboration with CoinDesk Indices. This collaboration aims to introduce financial products that track the real-time spot price of bitcoin.
As an initiative by NYSE and ICE, this collaboration will involve working closely with CoinDesk Indices and relevant regulatory agencies to develop specific offerings. In the past, ICE Futures Singapore joined forces with CoinDesk Indices to enhance its bitcoin futures contracts, using the CoinDesk Bitcoin Price Index (XBX) for monthly contract settlement.
The CoinDesk Bitcoin Price Index (XBX) is the longest-operating spot bitcoin index and currently serves as the benchmark for managing $20 billion worth of assets in ETFs. XBX tracks the spot price of bitcoin in US dollars, in real time, across multiple cryptocurrency exchanges. This index is diligently calculated and published every second, operating 24/7, all year round.