Institutional Bitcoin Index Launched by MVIS and CryptoCompare

MVIS, the MV Index Solutions, the indexing division of VanEck, a US-based asset manager, partnered with CryptoCompare, a cryptocurrency market data provider, and launched the MVIS CryptoCompare Institutional Bitcoin Index, with the ticker: MVIBTC. This Bitcoin index is built with the aim of monitoring and measuring the market performance of cryptocurrency as regards Bitcoin investment across selected exchanges.

The report noted that the new MVIS CryptoCompare Institutional Bitcoin Index is indefinitely a great and reliable benchmark for Bitcoin. It stressed that 3iQ Corp., Canadian investment fund manager, will utilize the index for the aim of NAV calculation of the Bitcoin fund.

Thomas Kettner, Managing Director at MVIS, expressed his excitement on how the two bodies welcomed this partnership launching.

"We are pleased to launch this index with our partner CryptoCompare. The index follows our long-term mission in supporting new product developments to provide investors access to Bitcoin," Kettner said.

Charles Hayter, CEO, and Co-Founder of CryptoCompare spoke regarding the transparency and reliability of the index, noting that transparency and authenticity are what the company is after and that they hope to achieve it with this partnership.

"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."

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