S&P Dow Jones Indices, a significant world useful resource for index-based information and analysis, has launched its first cryptocurrency indices amid a renewed surge on crypto markets.
The newly launched indices embrace Bitcoin-based S&P Bitcoin Index (SPBTC), Ether-based S&P Ethereum Index (SPETH), and S&P Cryptocurrency MegaCap Index (SPCMC), which is designed to trace the efficiency of BTC and ETH weighted by market cap. All three indices are instantly accessible on the S&P DJI website.
The corporate careworn that the brand new crypto indices are designed to measure the efficiency of crypto belongings listed on acknowledged, open exchanges that meet minimal liquidity and market capicalitazion necessities. “The indices goal to convey transparency to the rising cryptocurrency market,” S&P DJI famous.
Based on the announcement, S&P crypto pricing and reference information is offered by crypto accounting and information firm Lukka. The agency is backed by S&P DJI’s parent company S&P Global in addition to billionaire investor George Soros and accounting advisor CPA.com.
S&P DJI initially introduced its plan to launch cryptocurrency indices in late 2021, reportedly focusing on coverage of up to 550 digital assets.
S&P DJI’s newest transfer into the crypto market marks an essential milestone for cryptocurrency adoption by conventional finance. The transfer comes amid a renewed rally on crypto markets, with Ether — the second-largest crypto by market cap — hitting a brand new all-time excessive above $3,400 on Monday.