Frankfurt (24 March 2021) – MV Index Solutions GmbH (MVIS) in partnership with CryptoCompare, the globalleader 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 andexchanges 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 ofquantity-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 BitcoinBenchmark Rate (BBR), which has become a popular benchmark since its launchlast year.”
Charles Hayter, CEO and Co-Founder of CryptoCompare, commented: “Thelaunch of the MVIS CryptoCompare Ethereum Benchmark Rate will be key in helpinginstitutional investors gain greater exposure to Ethereum and bringing new playersto market.”
The MVIS CryptoCompare Ethereum Benchmark Rate (ticker: EBR) is a rules-based indexwhich covers the highest ranked exchanges in CryptoCompare’s Exchange Benchmarkincluding Coinbase, Gemini, Bitstamp, Kraken, and itBit, at the time oflaunching. Detailed information about the index, suchas methodology and index data, is available on the MV Index Solutions website.
Press Release:English
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