MV Index Solutions (MIVS), a subsidiary of New York-based investment management firm VanEck, has launched a new bitcoin index.

Announced Tuesday, the MVIS Bitcoin US OTC Spot Index (MVBTCO) is said to be the first index that covers the performance of bitcoin on selected over-the-counter (OTC) platforms in the U.S.

The index represents the average spot price of bitcoin and tracks performance based on three providers in OTC liquidity: Circle Trade, Cumberland and Genesis Trading, the release states.

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