Bitmain Announces Cryptocurrency Index

Bitmain, the leading cryptocurrency mining company, has launched a digital currency index.

China-based Bitmain, the leading manufacturer of mining equipment, announced earlier on Friday the launch of a cryptocurrency 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…

Read Full Story : Live Bitcoin News

2018-12-01 19:00:58

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