Bitmain Announces Cryptocurrency Index
Bitmain, the leading cryptocurrency mining company, has launched a digital currency index.
The index from the company that runs the most extensive mining pools in the world will serve as a useful reference and benchmark for investors.
Need for Reliable Pricing Data
The chairman of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, earlier this week had mentioned that a cryptocurrency-based exchange traded fund (ETF) is still a long way off.
According to Clayton, the unavailability of pricing data to investors is one of the hurdles in the way for an ETF. A reliable pricing data feed is required to construct an ETF, and it is expected that Bitmain’s index could chip in.
Details of the Index
The index will be denominated in U.S. dollars and will provide multiple data outputs which include:
- A real-time spot price which is updated every…
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