Bitmain Crypto Index Launches For Bitcoin Investors And Coin Traders
Bitmain Launches Crypto Index
Mining giant Bitmain has just launched a new cryptocurrency index. The index is for investors who are interested in having a benchmark for their investments. The index, called Bitmain Crypto Index, will be able to provide investors with an overview of the largest and most liquid cryptocurrencies and their performance in USD.
There are two types of prices viewable on the index – a real-time spot price, which is updated on a second-by-second basis; and a daily reference price, which is published daily. The index also features spot prices concerning 17 cryptocurrencies and it identifies them by factors such as market capitalization. There is also a combined Bitmain Bit 10 Index for large-cap cryptocurrencies. This latter category is weighed by market cap and members make up over 90 percent of the market value.
Bitmain discussed its methodology, stating
“The index is developed to provide institutional and retail investors with transparent timely, methodology-based, and investable benchmark of the most active cryptocurrencies traded globally.”
The index’s price data comes from several other exchanges, such as Bitstamp, Itbit, Kraken, OKEX, Gemini, and GDAX. Bitmain selects exchanges due to their price transparency, stability, compliance, and trading volume.
To ensure accuracy, Bitmain intends to establish a committee to review the index monthly.