tl;dr
The New York Stock Exchange plans to list index options tracking the price of bitcoin (BTC) using the CoinDesk Bitcoin Price Index (XBX). The cash-settled derivatives will be tied to the XBX, which is a 10-year-old benchmark operated by CoinDesk Indices. The collaboration aims to provide investors w...
New York Stock Exchange to List Bitcoin Index Options, Joining Traditional Finance in Cryptocurrency Space
The New York Stock Exchange plans to list index options tracking the price of bitcoin (BTC) using the CoinDesk Bitcoin Price Index (XBX). The cash-settled derivatives will be tied to the XBX, which is a 10-year-old benchmark operated by CoinDesk Indices. The collaboration aims to provide investors with a liquid and transparent risk-management tool pending regulatory approval. This move follows the recent approval of spot bitcoin ETFs and represents NYSE's entry into the cryptocurrency space.
Cash-Settled Derivatives to Track CoinDesk Bitcoin Price Index, Benchmark for $20 Billion in ETF Assets
The cash-settled derivatives will track the CoinDesk Bitcoin Price Index (XBX), a 10-year-old benchmark operated by CoinDesk Indices. The XBX is currently the benchmark for $20 billion in exchange-traded fund assets under management, according to the Wednesday press release announcing the partnership.
NYSE's Collaboration with CoinDesk Indices Aims to Offer Investors Access to Liquid and Transparent Risk-Management Tool
"Upon regulatory approval, these options contracts will offer investors access to an important liquid and transparent risk-management tool," said NYSE Chief Product Officer Jon Herrick. The collaboration aims to provide investors with a liquid and transparent risk-management tool pending regulatory approval.
Bitcoin Derivatives Paved the Way for Successful Introduction of Spot Bitcoin ETFs
Bitcoin derivatives helped pave the way for this year's introduction of spot bitcoin ETFs, which turned into one of the most successful ETF launches in history. NYSE's entrance into the game provides another TradFi-friendly onramp to crypto.
Intercontinental Exchange's ICE Futures Singapore to Use XBX for CoinDesk Bitcoin Futures Settlement in 2023
In 2023, Intercontinental Exchange's ICE Futures Singapore collaborated with CoinDesk Indices to use XBX for its monthly contract settlement for CoinDesk Bitcoin Futures in that country.