NYSE launches bitcoin index powered by Coinbase

FinTech | May 21, 2015 By:

On Tuesday, May 19, New York Stock Exchange launched the NYSE Bitcoin Index (NYXBT), a benchmark for the daily price of bitcoin.

“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.

NYXBT represents the U.S. Dollar value of one bitcoin, based on transactions occurring on Coinbase Exchange and other select bitcoin exchanges.

The creation of NYXBT represent a significant step forward in the continued adoption of Bitcoin and related payment technologies into the financial system.