MV Index Solutions (MIVS), a subsidiary of New York-based investment management firm VanEck, has launched a new bitcoin index.
Tuesday, the MVIS Bitcoin US OTC Spot Index (MVBTCO) is said to be the first index that covers the performance of bitcoin on selected over-the-counter (OTC) platforms in the U.S.
The index represents the average spot price of bitcoin and tracks performance based on three providers in OTC liquidity: Circle Trade, Cumberland and Genesis Trading, the release states.
“We are excited to be the first provider to launch a bitcoin index based on the pricing feed of OTC trading desks. This enables clients who trade over the counter to use this index as a reliable benchmark for their trades or potential investment products,” said Thomas Kettner, managing director at MIVS.
With the new addition, the firm said it now has a total of 24 digital asset indices.
Gabor Gurbacs, director of digital asset strategies at VanEck and MVIS, said:
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.