Designed to be a robust hourly price for Ethereum in USD across major exchanges
MV Index Solutions GmbH (MVIS®) in partnership with CryptoCompare, global leader in digital asset data, announced the launch of the MVIS CryptoCompare Ethereum Benchmark Rate (ticker: EBR), an index designed to offer a robust hourly price for Ethereum in USD.
“It complements our Bitcoin Benchmark Rate (BBR), which has become a popular benchmark since its launch last year.”
The index serves as a reference rate for funds, asset managers and exchanges who wish to build financial products, such as derivatives and ETPs, on Ethereum. It aggregates transaction prices on the top five exchanges, selected via the CryptoCompare Exchange Benchmark, and disseminates hourly. The index is based on an average of quantity-weighted median prices.
Read More: Deloitte: Hastened by the Pandemic, Global Enterprises Increase Investments in Advanced Wireless
“We are pleased to launch this index, which is designed to provide a price for Ethereum which is hard to manipulate,” said Thomas Kettner, Managing Director at MVIS. “It complements our Bitcoin Benchmark Rate (BBR), which has become a popular benchmark since its launch last year.”
Read More: iShares Takes Steps to Lead Industry in Style Investing
Charles Hayter, CEO and Co-Founder of CryptoCompare, commented: “The launch of the MVIS CryptoCompare Ethereum Benchmark Rate will be key in helping institutional investors gain greater exposure to Ethereum and bringing new players to market.”
The MVIS CryptoCompare Ethereum Benchmark Rate (EBR) is a rules-based index which covers the highest ranked exchanges in CryptoCompare’s Exchange Benchmark including Coinbase, Gemini, Bitstamp, Kraken, and itBit, at the time of launching. Detailed information about the index, such as methodology and index data, is available on the MV Index Solutions website.
Read More: Newlink Group Raises $300 Million In Funding From Leading Financial Institutions
