Frankfurt (23 April 2021) – MV Index Solutions GmbH (MVIS®) in partnership with CryptoCompare, the global leader in digital asset data, announced the licensing of the MVIS CryptoCompare Ethereum Benchmark Rate (ticker: EBR) and the MVIS CryptoCompare Bitcoin Benchmark Rate (ticker: BBR) to 3iQ Corp. for their Ether ETF (TSX:ETHQ.U) and Bitcoin ETF (TSX:BTCQ.U).
“We are happy to announce the first digital assets ETFs based on two of our indices were listed this week. After their successful closed-end funds which were launched last year, 3iQ now also decided for MVIS indices to underlie their new funds.,” said Thomas Kettner, COO of MV Index Solutions.
The MVIS CryptoCompare Ethereum Benchmark Rate (ticker: EBR) and the MVIS CryptoCompare Bitcoin Benchmark Rate (ticker: BBR) serve as a reference rate for funds, asset managers and exchanges who wish to build financial products, such as derivatives and ETPs, on Ethereum and Bitcoin. They aggregate transaction prices on the top five exchanges, selected via the CryptoCompare Exchange Benchmark, and disseminates in real-time. The indices are based on an average of quantity-weighted median prices.
“Our charter at 3iQ is to bring digital assets to the listed markets with the help of best-in-class service providers like MVIS. The new product is the next step in our company’s journey” said Tom Lombardi, Managing Director of 3iQ.Charles Hayter, CEO and Co-Founder of CryptoCompare, commented: “We are delighted to continue our collaboration with 3iQ Corp. and enable the expansion of their innovative financial products through robust digital asset indices. As institutional demand grows, these new funds are playing an important role in helping investors gain more exposure to digital assets and we are excited to work with 3iQ and MVIS to lead that charge.”
Detailed information about the indices, including methodology details and index data, is available on the MV Index Solutions website.