FRANKFURT, Germany (January 11, 2024) – MarketVector IndexesTM (“MarketVector”) announces the licensing of the MarketVector™ Bitcoin Benchmark Rate (BBR) to VanEck. The firm today launched the VanEck Bitcoin Trust (CBOEBZX Ticker: HODL), a first-of-its-kind ETF that provides exposure to spot Bitcoin.

The BBR is a robust tool for understanding the market value of Bitcoin. The index methodology is designed with a focus on accuracy, reliability, and resilience against market manipulation. MarketVector has been providing quality information to digital assets investors since 2017, and its indexes help the investment community make informed decisions, on this dynamic asset class.

“Bitcoin trades 24 hours a day on multiple exchanges and over-the-counter. It is important for ETFs to have a precise ‘end-of-day price’ even though trading never stops. We are proud to use MarketVector’s flagship BBR as the benchmark for the VanEck Bitcoin Trust,” stated Kyle DaCruz, Director of Digital Asset Product at VanEck Associates Corp. “Furthermore, one of the vital attributes of MarketVector’s cryptocurrency indexes is their status as a regulated benchmark provider under Germany’s BaFin regulations as well as the European BMR framework,” he added.

“We are honored to partner with VanEck to support the launch of their innovative and pioneering Spot Bitcoin ETF, HODL,” said Steven Schoenfeld, CEO of MarketVector. “Benchmarked to the MarketVectorTM Bitcoin Benchmark Rate, we are confident that investors will gain efficient exposure to Bitcoin. With more than seven years of experience in developing and managing Digital Asset Indexes, MarketVector is uniquely qualified to benchmark the dynamic and growing field of Crypto assets,” he continued.

The BBR calculates the volume-weighted median price average from 20 three-minute intervals, based on trades from the top five exchanges as ranked by CCData's Exchange Benchmark. This method offers a more accurate and manipulation-resistant measure of Bitcoin's price, enhancing the trust and transparency for investors. Additionally, the index exclusively includes BTC-USD trades, which further bolsters its reliability.

BBR’s robustness and accuracy are essential for maintaining integrity and trust in the dynamic cryptocurrency market. Its design and methodology ensure that it provides highly accurate price signals, keeping pricing anomalies in check, much like the precision of a Swiss watch in the world of timekeeping.

For more information on the index, visit MarketVector’s index page. For more information about the ETF, visit VanEck’s index page.

Press release