Benzinga – Coinbase Global Inc (NASDAQ:COIN) shares are facing selling pressure Wednesday. The weakness in Coinbase stock appears to be due to the New York Stock Exchange’s (NYSE) newly announced collaboration with CoinDesk.
What Happened: The NYSE said it will collaborate with CoinDesk Indices to launch cash-settled index options.
The index options will track the CoinDesk Bitcoin Price Index (XBX), which is the longest-operating spot Bitcoin (CRYPTO: BTC) index. The XBX tracks the spot price of bitcoin, denominated in U.S. dollars, in real time across multiple crypto exchanges. The NYSE noted that it intends to work with CoinDesk Indices and the relevant regulatory agencies to develop specific product offerings.
“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…
Read More
