The NYSE launched a bitcoin index Tuesday. The index is named NYXBT and it will reflect data from the Coinbase bitcoin exchange, which the NYSE made a minority investment in earlier this year.
The New York Stock Exchange is diving deeper into the world of Bitcoin with the introduction of a bitcoin pricing index. The index, which will be made available through NYSE's Global Index Feed and free on its website for a limited time, is intended to serve as a definitive benchmark for valuing the currency — in the same way that the LIBOR index is used to measure global interest rates. "We are now going to use our name, reputation and global index provider stature to provide bitcoin values that the rest of the market can look to," says Tom Farley, who serves as president of NYSE, the venerable financial institution that has come to symbolize Wall Street and capitalism more broadly.