NYSE teams with CoinDesk indices to launch spot bitcoin price products

The New York Stock Exchange, part of Intercontinental Exchange (ICE) announced it is collaborating with CoinDesk Indices (COIN) to launch cash-settled index options tracking the CoinDesk Bitcoin Price Index, XBX, the longest-operating spot bitcoin index. ICE and the NYSE intend to work with CoinDesk Indices and the relevant regulatory agencies to develop specific product offerings. Last year, ICE Futures Singapore collaborated with CoinDesk Indices to update its bitcoin futures contracts, CoinDesk Bitcoin Futures BMC , to utilize XBX for its monthly contract settlement. “As traditional institutions and everyday investors are demonstrating their wide-ranging enthusiasm for the recent approval of spot bitcoin ETFs, the New York Stock Exchange is excited to announce its collaboration with CoinDesk Indices,” said Jon Herrick, Chief Product Officer, New York Stock Exchange. “Upon regulatory approval, these options contracts will offer investors access to an important liquid and transparent risk-management tool.”