According to the announcement, the MVIS CryptoCompare Institutional Bitcoin Index (MVIBTC) measures the performance of Bitcoin, with prices from selected exchanges. The index closed Tuesday up 93.72% on the year to 1,154.96, based on a start value of 100 on December 31, 2013.
“We are pleased to launch this index with our partner CryptoCompare,” said Thomas Kettner, managing director at MVIS. “The index follows our long-term mission in supporting new product developments with the aim of providing investors access to bitcoin.”
The index will be utilized by Canadian investment fund manager, 3iQ Corp., for the purpose of NAV calculation of The Bitcoin Fund.
CryptoCompare’s CEO and co-founder, Charles Hayter, added, “Our mission is to bring greater transparency to the digital asset class by providing high quality, trusted data and indices. Together with our partner MVIS, we are excited to offer investors a reliable tool to better measure the performance of their Bitcoin exposure.”
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.