S&P Dow Jones Indices has announced the launch of three new indices that track the performance of the largest and most liquid cryptocurrencies. The indices will be run by S&P Dow Jones Indices and have 9 constituent cryptocurrencies: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Ethereum Classic, Stellar, NEO, and EOS.
S&P Global, the parent company of S&P Dow Jones Indices, has launched three crypto-currency indices. One tracks the performance of Bitcoin, one tracks the performance of Ethereum, and one tracks the performance of Bitcoin and Ether.
3 crypto-indices introduced by S&P Global
S&P Global, the parent company of S&P Dow Jones Indices LLC, launched the S&P Digital Market Indices on Monday.
The index series includes the S&P Bitcoin Index, the S&P Ethereum Index and the S&P Crypto Mega Cap Index. The ticker symbols for these three crypto-currencies are SPBTC, SPETH and SPCMC. The latter measures the performance of Bitcoin and Etherium, the company said.
Three crypto indices launched by S&P Global. Source: S&P Worldwide
The company explained that the indices aim to provide transparency in the emerging cryptocurrency market:
These indices are designed to measure the performance of individual digital assets (crypto assets) listed on recognized public exchanges that meet minimum liquidity and market capitalization criteria.
Indexes uses Lukka Inc, a crypto data provider, as a data source for pricing digital assets and reference data through its Lukka Prime and Lukka Reference Data products.
S&P Global says cryptocurrencies have become mainstream and are expected to remain so for a long time to come as more and more companies offer cryptocurrency services and their adoption increases globally. On the other hand, an analyst at S&P believes that the rise of bitcoin is reminiscent of the gold rush in the US.
What do you think of the launch of the S&P crypto indices? Let us know your comments in the section below.
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