Nasdaq and CME rebrand Nasdaq Crypto Index as Nasdaq-CME Crypto Index

The Nasdaq Stock Exchange and the Chicago Mercantile Exchange (CME) Group have joined forces to unify their crypto indexes, rebranding the Nasdaq Crypto Index (NCI) as the Nasdaq-CME Crypto Index, Cointelegraph reported. Spokespersons for Nasdaq confirmed to Cointelegraph that the NCI benchmark includes Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL), Chainlink (LINK), Cardano (ADA) and Avalanche (AVAX).

Sean Wasserman, head of index product management at Nasdaq, said: "We see the index-based approach as the direction investors are heading, beyond just Bitcoin. That’s similar to what we’ve seen in other asset classes, where you have indexes that are representative of the broader market." The announcement comes amid what the article describes as an institutional rush into crypto, digital assets and blockchain technology as traditional financial infrastructure integrates digital rails.

Cointelegraph cited industry views that crypto index products are on the rise: Will Peck, head of digital assets at WisdomTree, said crypto index ETFs will drive the next wave of crypto adoption because they remove technical complexity and are suitable for passive investors. The report noted the growing number of tokens on the market, saying there were 29.66 million cryptocurrencies listed on CoinMarketCap at the time of writing.

Key Topics

Crypto, Nasdaq, Cme Group, Nasdaq-cme Crypto Index, Bitcoin, Ether