Digital Currency Revolution Series: BNC and BTSE Unveils Composite Index (BBCX) For Live Tracking of BTC, ETH, and LTC

Brave New Coin (BNC),  a leading cryptocurrency market data provider, and multi-currency futures exchange BTSE together launched the Institutional-Grade Composite Index BNC-BTSE (BBCX) that will track real-time market performance of BTC, ETH, and LTC. Brave New Coin (BNC), recently introduced the launch of its ‘BNC Pro’ which is going to be cryptocurrency management platform.

For now, in a press release, BNC and BTSE have announced this, stating that the BBCX is likely to play a role of a pioneer in the industry to track a basket of crypto assets across a number of pricing sources at sub-second frequency. The BBCX index is created and administered by Brave New Coin and co-branded by BTSE.

Key features of the BBCX index: It will track the performance of a basket of large cap cryptocurrencies 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 dollar, 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.

Fran Strajnar, the CEO and Founder of Brave New Coin comments on the launch of the index: “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. Joining forces with BTSE, an industry leader to equip traders, investors, and analysts throughout the industry with the right tools to make informed and educated decisions, is another step forward to an advanced industry.”

“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.