Based on a recent report, a subsidiary of VanEck— MV Index Solutions (MIVS), has launched a new bitcoin index. The new bitcoin Index is referred to as the MVIS Bitcoin US OTC Spot Index (MVBTCO).
MVIS Bitcoin US OTC Spot Index
According to the report, this new bitcoin index is the first index, to sum up the overall performance of bitcoin on some selected over-the-counter (OTC) platforms located within the U.S.
According to a press release from, MV Index Solutions (MIVS), the MVIS Bitcoin US OTC Spot Index (MVBTCO) is the average spot price of bitcoin. The release also made it known that the index will track the performance of bitcoin across three providers of OTC liquidity: Circle Trade, Cumberland and Genesis Trading.
The release also made it clear that the index will track only Bitcoin and not its forks.
This was further stressed on the MVIS website. There managing director at MIVS,Thomas Kettner stated that:
“We are excited to be the first provider to launch a bitcoin index based on the pricing feed of OTC trading desks. This enables clients who trade over the counter to use this index as a reliable benchmark for their trades or potential investment products,”
The MVIS Bitcoin US OTC Spot index helps sum up the total digital asset indices under the firm’s management to a total of 24.
The director of digital asset strategies at VanEck and MVIS, Gabor Gurbacs, has also made statements regarding the creation of the new index. He stated that:
“The index may pave the way for institutionally oriented products, such as ETFs as well as provide further tools to institutional investors to execute institutional size trades at transparent prices on the OTC markets.”
VanEck-SolidX ETF
According to a previous report, it was made known that, VanEck partnered with financial services company SolidX back in June 2018. The purpose of this partnership is to launch the first bitcoin exchange-traded fund (ETF). The duo had plans to have the ETF listed on the Cboe BZX Equities Exchange.
The process of approving this ETF is still underway as the U.S. Securities and Exchange Commission (SEC) is still reviewing the submitted proposal.
