TradeBlock today announced the launch of the ECX Index, an institutional-grade benchmark for the USD-denominated price of Ethereum Classic. TradeBlock is a leading provider of institutional digital currency trading tools.
TradeBlock’s ECX index aims to provide a reference for Ethereum Classic by using many methods similar to TradeBlock’s XBX index, which is widely used by institutional bitcoin markets.
The ECX Index is based on trading activity observed across the leading Ethereum Classic exchanges to provide a real-time quote. The ECX Index maximizes the replicability of its value in live spot markets by weighting exchange data based on trading floor liquidity and automatically de-weighting anomalous trades in real-time.
As with the XBX Index, TradeBlock uses the calculation methodology framework and governance protocols of its ECX Index defined by the IOSCO Principles for Financial Benchmarks.
The ECX Index includes markets that are liquid on both the ETC/USD and ETC/XBT crossroads and includes the XBX Index rate to provide a consolidated ETC/USD benchmark rate.
After seeing significant growth with its Bitcoin Investment Trust (GBTC), Grayscale Investments filed with the SEC for listing on the New York Stock Exchange on January 20, 2017, officially positioning its product as an ETF that tracks price and… Use of Bitcoin is tracked by XBX Index as a reference rate.
Grayscale Investments also recently announced the launch of its next digital currency investment product, the Ethereum (ETC) Investment Trust (EIT), which will use TradeBlock’s ECX as a reference rate to determine net asset value.
Tools to track ECX performance and related information will be made available in the public areas of the TradeBlock website in the coming weeks.
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