New financial products from NYSE related to Bitcoin
The New York Stock Exchange (NYSE) plans to launch new financial products that will track the current price of Bitcoin. These products will be developed in partnership with CoinDesk Indices and will rely on the CoinDesk Bitcoin Price Index (XBX), a real-time price index that serves as a benchmark for many Bitcoin ETFs (exchange-traded funds).
Cash-settled index options for investors
Planned cash-settled index options are designed to provide investors with a sophisticated tool for managing risk in Bitcoin investments. These options highlight the increasing integration of Bitcoin into traditional financial markets and the growing acceptance of Bitcoin by established financial institutions.
Anchoring Bitcoin in the financial sector by 2024
The launch of these Bitcoin-based products by the NYSE, a giant in the global financial market with a market capitalization of $25 trillion, emphasizes Bitcoin's entrenchment in the financial sector by 2024. This development is in line with the rising institutional interest fueled by recent regulatory approvals for Bitcoin ETFs. The launch and success of these products depend on regulatory approval.
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