Bullish launches Bitcoin benchmark tool for ETFs and index funds
Bullish has introduced the Bullish Closing Cross, the first daily closing auction for spot Bitcoin offered by an NYSE-listed digital asset platform. The service aims to establish a deterministic daily closing price for BTC/USDC, supporting institutional investors, ETFs, and index funds that require reliable valuation benchmarks.
Held each day at 4:00 p.m. Eastern Time, the auction concentrates global trading interest into a single liquidity event, with order imbalance data published before execution. Simultaneous USD/USDC and USDT/USD auctions will also allow participants to manage currency conversions within the same process.
According to Bullish, the Closing Cross introduces an equity-style closing auction to Bitcoin markets, creating a transparent benchmark that can enhance price discovery, fund valuation, index rebalancing, and institutional trading workflows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Stock Market Preview | The three major stock index futures are mixed; PCE data to be released soon; Micron (MU.US) earnings report to be announced after the market
The three major U.S. stock index futures showed mixed performance.
Samsung wafer fab, price increase?
Gold struggles for direction ahead of Fed’s preferred PCE inflation data
Crypto prices
More
