The New York Stock Exchange and CoinDesk Partner to Launch Bitcoin Options Contracts
The New York Stock Exchange (NYSE) and CoinDesk, a leading provider of cryptocurrency indices, have announced the launch of new options contracts tied to the CoinDesk Bitcoin Price Index (XBX). The XBX is the oldest index for assessing the spot price of Bitcoin, updated every second and covering multiple cryptocurrency exchanges.
Transparent and Liquid Tool for Bitcoin Trading
The new options contracts, developed in collaboration with CoinDesk, will be cash-settled and help investors effectively manage risks by providing a transparent and liquid tool for Bitcoin trading. NYSE and CoinDesk will work with regulatory authorities to ensure compliance with all regulatory requirements.
Market Influence and Expansion
The XBX index, launched in 2014, is already being used by several large cryptocurrency exchange-traded funds (ETFs) collectively managing assets of around $20 billion. It reflects the spot price of Bitcoin in US dollars and is calculated in real time. The increased interest in digital assets from traditional financial institutions following the approval of spot Bitcoin ETFs in January 2024 also contributed to the launch of new instruments.
This reaffirms NYSE and CoinDesk’s commitment to expanding access to cryptocurrency investments and offerings. Furthermore, the acquisition of CoinDesk and its subsidiaries by the cryptocurrency exchange Bullish, led by former NYSE President Tom Farley, highlights the growing interest in cryptocurrencies and the market’s influence.
Active Development of Cryptocurrency Market
In addition, the miner Luxor launched BTC hashrate futures on the regulated American cryptocurrency derivatives exchange Bitnomial in May, further confirming the active development of the cryptocurrency market and its integration with traditional financial instruments.
