The proposed collaboration between the New York Stock Exchange (NYSE: ICE) and Coindesk aims to utilize XBX, the longest-running spot bitcoin index, which serves as the benchmark for $20 billion in ETF assets under management. This index reflects the real-time spot price of bitcoin (BTC) in U.S. dollars, calculated every second across various cryptocurrency exchanges.

Jon Herrick, the chief product officer at NYSE, stated, "With traditional institutions and everyday investors showing great enthusiasm for the recent approval of spot bitcoin ETFs, the New York Stock Exchange is pleased to announce its partnership with Coindesk Indices." He added that, upon regulatory approval, these options contracts would provide investors with a vital, transparent risk-management tool.

Last year, similar collaborations resulted in the launch of updated bitcoin futures contracts by ICE Futures Singapore. The NYSE, part of Intercontinental Exchange, Inc., highlighted that these new products will offer essential risk management tools for investors transparently. This move underscores NYSE’s ongoing adaptation to digital asset trends and the increasing institutional interest in cryptocurrencies.