The price of Bitcoin fell by over 6% on Wednesday’s session moving away from the benchmark $20,000 following news that a trader paid only $1.25 to transfer $166 million worth of coins from one address to another.
However, the price of Bitcoin is still up by over 150% since the start of the year and the Bull run seems to be in the early stages given the recent positive news that the S&P Dow Jones Indices will launch cryptocurrency indices next year.
The S&P Global announced last week it had chosen virtual currency company Lukka as the data provider for the project.
“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks,” said Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices.
Meanwhile, Valour, the Swiss-based creator of investment products that provides exposure to innovative technologies, has announced the launch of Bitcoin Zero, a Bitcoin (BTC) exchange-traded product (ETP) that comes with zero management fees.
Bitcoin Zero has begun trading on the Stockholm-based Nordic Growth Market stock exchange. It will make investment in the world’s best-known digital asset easier, more secure and more cost-effective than all other options.