FRANKFURT, Germany (August 29, 2022) – MarketVector IndexesTM announces the licensing of the MarketVectorTM Coinbase Ethereum Benchmark Rate (ticker: CETBR), to crypto industry leader Coinbase, effective today. The extension of this partnership with the licensing of CETBR is well-timed, just one week before the start of Ethereum’s Merge upgrade process, which is expected to be completed at some point on September 10-20. As one of the most anticipated crypto events of the year, the Merge will see Ethereum move from the energy-intensive Proof-of-Work (PoW) consensus mechanism to a more efficient Proof-of-Stake system.

“We are proud to partner with Coinbase Derivatives Exchange in providing benchmarks for their innovative futures contracts, and we look forward to their adoption by a wide range of users,” said Steven Schoenfeld, CEO of MarketVector IndexesTM. “The MarketVectorTM Coinbase Ethereum Benchmark Rate (CETBR) is our second benchmark to support Coinbase’s Nano Crypto contracts, and we are confident in the prospects for this product. The index is to underlie Coinbase Derivatives Exchange’s Nano Ether futures contract and will allow retail traders to position themselves and the ETBR will provide important reference rates for the market as they reflect their positions in the price.”

“It is essential for derivatives on cryptocurrencies to have a representative reference rate which is robust against market distortions and manipulations. The index follows our long-term mission in helping the derivatives market gain greater acceptance among professional and institutional investors,” said Martin Leinweber, Digital Asset Product Strategist at MarketVector IndexesTM.

The MarketVectorTM Coinbase Ethereum Benchmark Rate (ticker: CETBR) is designed to be a robust price for Ethereum in USD, traded on the Coinbase Exchange, and is calculated in USD as a price return index.

“We’re excited to launch another product in collaboration with MarketVectorTM as we continue to build an accessible derivatives market and provide transparent derivatives pricing for popular digital assets,” said Boris Ilyevsky, Head of Coinbase Derivatives Exchange.

Detailed information about the index, including methodology details and index data, is available on the MarketVector IndexesTM website. 
 

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