BNC and BTSE launch index to track BTC, ETH and LTC in real-time

Brave New Coin and multi-currency futures exchange BTSE have together launched the BNC-BTSE Composite Index (BBCX) that will track real-time market performance of BTC, ETH, and LTC. The BBCX product is one of the first in the industry to track a basket of crypto assets across a number of pricing sources at sub-second frequency.

The BBCX is tradable in the futures market on BTSE only and real-time pricing of the index is available to view in the spot market.

Commenting on building crypto indexes, Fran Strajnar, CEO and Founder of Brave New Coin says: “As one of the first indexes in the world to track an array of crypto assets across a number of exchanges, this is not only a key milestone for BNC, as we continue to be a go-to source for real-time, accurate data but for the industry as a whole." Strajnar says joining forces with an industry leader like BTSE "to equip traders, investors, and analysts throughout the industry with the right tools to make informed and educated decisions", is another step forward to a more advanced industry.

The BBCX index will track the performance of a basket of large cap cryptocurrencies (BTC, ETH and LTC) by free float market capitalization based on order book data sourced from five constituent exchanges; Bitstamp, Bitfinex, Kraken, Coinbase-Pro, and BTSE.

Free float market capitalization, expressed in USD, is used to determine the weights of each underlying asset. Asset weighting is set at the beginning of each quarter and will remain constant throughout the quarter. The asset weightings for the current quarter are: BTC, 60%; ETH, 33.25%; and LTC, 6.75%. The index is rebalanced on a quarterly basis so that it reflects the underlying assets’ market performance.

“BNC’s and BTSE’s index futures enable crypto traders to speculate on the direction of the market as a whole,” explains BTSE’s Chief Product Officer, Brian Wong, “they provide portfolio managers an effective tool to hedge out beta risk.”

Offering futures and spot trading as well as multiple fiat on and off-ramps, BTSE is designed as a one-stop solution for traders at all levels to conveniently deposit, trade, convert, and withdraw crypto and fiat currencies. BTSE utilizes a combination of proven technologies from the institutional trading landscape and cutting-edge Bitcoin technology to facilitate a maximally secure and efficient trading experience.

BTSE developed Futures 2.0, fully customizable futures contracts that allow traders to freely choose and combine their margin and settlement assets. This makes BTSE’s futures technology among the most advanced on the market. Brave New Coin will be the crypto index builders for BTSE’s planned alt-coin index which is due to launch early in 2020.

The BBCX index is created and administered by Brave New Coin and co-branded by BTSE.