CryptoCompare, a global cryptocurrency market data aggregator, announced this week that it has partnered with MV Index Solutions (MVIS) to launch a new institutional Bitcoin (BTC) index.
According to the announcement, the MVIS CryptoCompare Institutional Bitcoin Index (MVIBTC) measures the performance of Bitcoin, with prices from selected exchanges. The index closed Tuesday up 93.72% on the year to 1,154.96, based on a start value of 100 on December 31, 2013.
“We are pleased to launch this index with our partner CryptoCompare,” said Thomas Kettner, managing director at MVIS. “The index follows our long-term mission in supporting new product developments with the aim of providing investors access to bitcoin.”
The index will be utilized by Canadian investment fund manager, 3iQ Corp., for the purpose of NAV calculation of The Bitcoin Fund.
CryptoCompare’s CEO and co-founder, Charles Hayter, added, “Our mission is to bring greater transparency to the digital asset class by providing high quality, trusted data and indices. Together with our partner MVIS, we are excited to offer investors a reliable tool to better measure the performance of their Bitcoin exposure.”
This news comes roughly two months after MVIS partnered with Amun to launch the Amun Bitcoin Suisse Crypto Index (ABBA), a digital assets index designed to accurately track Bitcoin and Ether (ETH).
More: MVIS and CryptoCompare Launch the MVIS CryptoCompare Institutional Bitcoin Index
Related: MVIS and Amun Launch the Amun Bitcoin Suisse Crypto Index
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
