Share this article
S&P Dow Jones Indices has doubled down on its crypto play. The data provider has launched five new crypto indices.
S&P Dow Jones Adds Five New Crypto Indices
S&P Dow Jones Indices is embracing crypto.
The index provider has launched five new crypto indices, according to a Tuesday press release.
The biggest update is the launch of a new S&P Cryptocurrency Broad Digital Market (BDM) Index, which will track the performance of the crypto market across 240 coins.
The other indices are slight variants of the Broad Digital Market Index. The S&P Cryptocurrency LargeCap Index measures the performance of coins in the BDM with the largest market caps, the S&P Cryptocurrency BDM Ex-MegaCap Index uses the BDM data minus Bitcoin and Ethereum, the S&P Cryptocurrency LargeCap Ex-MegaCap Index tracks the LargeCap data with Bitcoin and Ethereum excluded, and the S&P Cryptocurrency BDM Ex-LargeCap Index excludes the LargeCap altogether.
The new indices follow the launch of a Bitcoin Index, an Ethereum Index, and a MegaCap Index tracking both of the leading cryptocurrencies. The firm announced its move into crypto with the launch of the three indices in Dec. 2020, partnering with crypto software and data provider Lukka. They went live in May.
S&P Dow Jones Indices is best known for the S&P 500 and the Dow Jones Industrial Average, two of the world’s most widely followed market indicators. Nonetheless, with the addition of five new crypto offerings, it’s clear that the index provider is looking to capitalize on the growing interest in crypto.
Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices, remarked that the move to adopt five new crypto indices brings more transparency to the cryptocurrency market. “The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class,” he said.
Disclosure: At the time of writing, the author of this feature owned ETH, ETH2X-FLI, and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Bitcoin and Ethereum Indices Debut on S&P Dow Jones
These indices will be tied to the performance of the cryptocurrency market without requiring investors to hold crypto themselves, opening the door for further institutional investment. Traditional Finance Gains More…
What is Impermanent Loss and How can you avoid it?
DeFi has given traders and investors new opportunities to earn on their crypto holdings. One of these ways is by providing liquidity to the Automated Market Makers (AMMs). Instead of holding assets,…
S&P Dow Jones to Launch Crypto Indices Next Year
S&P Dow Jones Indices, one of the world’s most-established index providers, is expanding into cryptocurrencies. The index provider arm of U.S. finance giant S&P Global will add indices for cryptocurrencies…
Ethereum Could Overtake Bitcoin, Goldman Sachs Says
Goldman Sachs says that Ethereum could become crypto’s dominant store of value. Goldman Sachs Bullish on Ethereum Major investment banks are seeing the potential in Ethereum. According to a Tuesday…