FRANKFURT, Germany–(BUSINESS WIRE)–August 29, 2022–
MarketVector Indexes TM Announces License to MarketVector TM Coinbase Ethereum Benchmark Rate (ticker: CETBR), to crypto industry leader Coinbase, starting today. The extension of this partnership with CETBR’s license comes at a good time, just a week before the start of Ethereum’s Merge upgrade process, which is expected to be completed sometime between September 10-20. As one of the most anticipated crypto events of the year, the merger will see Ethereum move from the energy-intensive proof-of-work (PoW) consensus mechanism to a more efficient proof-of-stake system.
“We are proud to partner with Coinbase Derivatives Exchange to provide benchmarks for their innovative futures contracts, and we look forward to their adoption by a wide range of users,” said Steven Schoenfeld, CEO of MarketVector Indexes TM. “The MarketVector™ Coinbase Ethereum Benchmark Rate (CETBR) is our second benchmark to support Coinbase’s Nano Crypto contracts, and we are confident in the prospects of this product.”
The index is to underpin the Coinbase Derivatives Exchange Nano Ether futures contract and will allow retail traders to position themselves and the ETBR will provide important benchmark rates for the market as it reflects their positions in price.
“It is essential that cryptocurrency derivatives have a benchmark that is representative and robust against market distortions and manipulation. The index follows our long-term mission to help the derivatives market be better accepted by professional and institutional investors,” said Martin Leinweber, digital asset product strategist at MarketVector Indexes TM.
The MarketVector TM Coinbase Ethereum Benchmark Rate (ticker: CETBR) is designed to be a robust price for Ethereum in USD, traded on the Coinbase Exchange, and is calculated in USD as a price return index.
“We are excited to launch another product in conjunction with MarketVector™ as we continue to build an accessible derivatives market and provide transparent derivatives pricing for popular digital assets,” said Boris Ilyevsky, Head of Coinbase Derivatives Exchange. .
Detailed information about the index, including details of the methodology and index data, is available on the MarketVector Indexes TM website.
Main characteristics of the index
Number of components: 1
Reference date: 31 December 2017
Base value: $724.29
About MarketVector™ Indices – www.marketvector.com/
MarketVector Indexes™ (“MarketVector™”) is a European regulated benchmark administrator, incorporated in Germany and registered with the Federal Financial Supervisory Authority (BaFin). MarketVector™ maintains indices under the names MarketVector™, MVIS ® and BlueStar ®. With a mission to accelerate index innovation globally, MarketVector™ is best known for its wide range of thematic indices, long-standing expertise in physical asset-linked equity indices, and its pioneering family of digital asset indices. MarketVector™ is an independent, wholly-owned subsidiary of Van Eck Associates Corporation of the United States and is proud to partner with over 25 exchange-traded product (ETP) issuers and index fund managers in markets around the world .
ET and CETBR are really timely, and we hope that the industry and the market (especially the media) will adopt it to monitor the developments of Ethereum Merge (from September 6th).
The August 29 launch of the Coinbase Nano Ether (ET) futures contract – powered by MarketVector™ Coinbase Ethereum Benchmark Rate (ticker: CETBR) – is well-timed a week before the Ethereum merger upgrade begins. ET futures will allow retail traders to position themselves and ETBR will provide important benchmark rates for the market as it reflects their positions in price.
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CONTACT: Eunjeong Kang, MarketVector IndexesTM
+49 (0) 69 4056 695 38
[email protected] Marinelli, Gregory FCA on behalf of MarketVector IndexesTM
KEYWORD: GERMANY EUROPE
KEYWORD INDUSTRY: OTHER PROFESSIONAL SERVICES PROFESSIONAL SERVICES FINANCE
SOURCE: MarketVector Indices
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PUBLISHED: 08/29/2022 10:45 a.m. / DISK: 08/29/2022 10:47 a.m.