The New York Stock Exchange today announced the NYSE Bitcoin Index (NYXBT), the first exchange-calculated and disseminated bitcoin index.

Today is a great day for the bitcoin community. The news from the New York Stock Exchange seems to be very promising. It was launched a bitcoin index – NYXBT – which will represent the U.S. dollar value of one bitcoin unit based upon actual transactions occurring on select bitcoin exchanges which have been evaluated and meet NYSE’s quality standards, according to the NYSE.

Initially, the NYSE Bitcoin Index will reflect data from transactions from the leading U.S.-based bitcoin exchange, Coinbase Exchange, which received a minority investment from the NYSE. Coinbase is a leading bitcoin wallet and trading platform with over 2.8 million consumer wallets, 39,000 merchants and more than 7,000 developers.

“With bitcoin, you don’t have to make a particularly huge investment in order to have the right seat at the table, in order to do some skunk works development, in order to stay abreast of the technology,” says Thomas Farley, NYSE Group President.

“Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class,” said Thomas Farley. “As a global index leader and administrator of ICE LIBOR, ICE Futures U.S. Dollar Index and many other notable benchmarks, we are pleased to bring transparency to this market.”

“By combining our technology infrastructure with our expertise in index calculation and data management, we will continue to launch complementary products based on our rigorous standards and proprietary index methodology,” he added.

“NYXBT utilizes a unique methodology that relies on rules-based logic to analyze a dataset of matched transactions and verify the integrity of the data to ultimately produce an objective and fair daily value for one bitcoin in U.S. Dollars as of 16:00 London time,” according to the press release.

Mr. Farley comments on the new mindset of NYSE: “New technology does not intimidate us, it excites us.” Bitcoin in particular excited him, both because of the interest in the currency and the blockchain technology behind it, which serves as a transaction database. “It was that curiosity and also… let’s not wait for this to fully evolve; let’s get a seat early on and see how this matures.”

NYSE, along with Intercontinental Exchange is a leading provider of data services, including ICE Benchmark Administration (IBA), which combines robust regulatory and governance frameworks to bring credibility and trust to globally important benchmarks.

IBA administers some of the world’s most systemically important benchmarks including ICE LIBOR, LBMA Gold Price and ICE Swap Rate (formerly known as ISDAFIX). The NYSE Global Index Group has more than 250 proprietary indices in its portfolio – including the NYSE Arca Biotechnology Index, StrataQuant® Index Family and NYSE Arca Gold Miners Index – and$28 billion in benchmarked assets tracking them via exchange-traded products.

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