The New York Stock Exchange (NYSE) has announced plans to launch financial products tied to the spot price of Bitcoin. The NYSE is collaborating with CoinDesk Indices to develop cash-settled index options that will track the CoinDesk Bitcoin Price Index (XBX).
BREAKING: 🇺🇸 New York Stock Exchange to launch financial products tracking spot #Bitcoin prices. pic.twitter.com/mhPECUZAsW
— Bitcoin Magazine (@BitcoinMagazine) May 29, 2024
The XBX is a real-time spot price index for Bitcoin calculated across major crypto exchanges. It has been operating for over 10 years and is currently the benchmark for $20 billion worth of Bitcoin ETF assets.
By developing options contracts based on the XBX, the NYSE aims to provide investors with a new tool to manage risk as interest in Bitcoin continues growing. The products would be subject to regulatory approval.
NYSE Chief Product Officer Jon Herrick said these new options contracts will give investors „access to an important liqui
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