FRANKFURT, Germany–(BUSINESS WIRE)–MV Index Solutions GmbH (MVIS®) in partnership with CryptoCompare, global leader in digital asset data, today announced the launch of the MVIS CryptoCompare Ethereum Benchmark Rate (ticker: EBR), an index designed to offer a robust hourly price for Ethereum in USD.
The index serves as a reference rate for funds, asset managers and exchanges who wish to build financial products, such as derivatives and ETPs, on Ethereum. It aggregates transaction prices on the top five exchanges, selected via the CryptoCompare Exchange Benchmark, and disseminates hourly. The index is based on an average of quantity-weighted median prices.
“We are pleased to launch this index, which is designed to provide a price for Ethereum which is hard to manipulate,” said Thomas Kettner, Managing Director at MVIS. “It complements our Bitcoin Benchmark Rate (BBR), which has become a popular benchmark since its launch last year.”
Charles Hayter, CEO and Co-Founder of CryptoCompare, commented: “The launch of the MVIS CryptoCompare Ethereum Benchmark Rate will be key in helping institutional investors gain greater exposure to Ethereum and bringing new players to market.”
The MVIS CryptoCompare Ethereum Benchmark Rate (EBR) is a rules-based index which covers the highest ranked exchanges in CryptoCompare’s Exchange Benchmark including Coinbase, Gemini, Bitstamp, Kraken, and itBit, at the time of launching. Detailed information about the index, such as methodology and index data, is available on the MV Index Solutions website.
Key Index Features
Number of Components: 1
Base Date: 12/31/2017
Base Value: 745.36
Note to Editors:
About MV Index Solution – www.mvis-indices.com
MV Index Solutions (MVIS®) develops, monitors and licenses the MVIS Indices, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. MVIS Indices cover several asset classes, including equity, fixed income markets and digital assets and are licensed to serve as underlying indices for financial products. Approximately USD 27.07 billion in assets under management (as of 3 June 2020) are currently invested in financial products based on MVIS Indices. MVIS is a VanEck company.
About CryptoCompare – https://data.cryptocompare.com
CryptoCompare is a global leader in digital asset data. Institutional and retail investors rely on the company for real-time and historical data spanning 5,000+ coins and 200,000+ currency pairs. By aggregating and analysing tick data from globally recognised exchanges and seamlessly integrating multiple datasets, CryptoCompare provides a comprehensive, granular overview of the market across trade, order book, historical, social and blockchain data.