Image credit: Shutterstock
Pyth Network has launched Pyth Indices, a 24/7 pricing product for U.S. equities, metals and oil, as crypto exchanges build more markets tied to assets that usually trade on fixed schedules.
Coinbase, Kraken, dYdX and Nado are among the first users of the indexes. The feeds are meant to support perpetual futures, tokenized assets, prediction markets, derivatives settlement and exchange-traded product benchmarks.
First Indexes Cover Nvidia, Gold and Oil
The first lineup covers Nvidia, Tesla, Apple, Microsoft, Alphabet, Intel, Robinhood, Strategy and Circle. It also includes gold, silver, WTI crude and Brent crude.
Pyth said the indexes draw from liquid on-chain and off-chain trading venues, including firms and venues where price discovery continues after traditional market hours. Each index has a published methodology and can be licensed for settlement, licensing and ETF or ETP benchmarking.
Coinbase Gets Four MarketVector Equity Baskets
Pyth also worked with MarketVector on equity index futures for Coinbase. The Coinbase-specific products include AI10, Defense10, China10 and Tech100.
Coinbase had already described the contracts as cash-settled, perpetual-style equity index futures with funding rates meant to keep futures prices close to the underlying indexes. The exchange said the products cover themes such as artificial intelligence, China-listed names, defense and large Nasdaq-listed technology companies.
MarketVector Expands Pyth Beyond Single Feeds
The MarketVector work expands Pyth’s role from single-asset feeds into equity basket benchmarks used by Coinbase. It also gives Coinbase another way to expand derivatives without offering direct stock ownership.
The structure fits a broader push by crypto exchanges to list stock-linked products without turning those products into ordinary shares.
Kraken Uses Indexes for Oil Perpetuals
The launch is aimed at a gap in always-on trading. Crypto venues can list products around the clock, but U.S. shares, metals and oil do not all trade on the same schedules.
That mismatch matters for perpetual contracts and prediction markets, where settlement and risk systems need reference prices even when cash markets are closed. Kraken said it is using Pyth Indices for oil perpetuals because those products need a continuous reference price to function.
Pyth Adds Hong Kong Equity Feeds
The rollout follows Pyth’s earlier work with Blue Ocean ATS to provide 24/5 U.S. equity price feeds. Pyth Pro also added Hong Kong equity feeds this month, expanding coverage across more than 70 Hong Kong-listed securities.
The indexes give exchanges a new data layer for stock and commodity-linked crypto products that can trade outside traditional market hours.
