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S&P Dow Jones Indices launches Bitcoin,etherium index to measure its performance

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Shivangi Mujumdar Follow


May, 07 2021

May, 07 2021

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As per the press.spglobal.com/2021-05-04-S-P-Dow-Jones, the press release says that in New York, on May 4, 2021- S&P Dow Jones Indices has legitimately launched its new series of digital asset benchmarks.?? 


These different S&P-branded indices will ration the performance of digital assets listed on renowned open cryptocurrency exchanges. 


S&P Bitcoin Index will maintain a record of the performance of Bitcoin while S&P Ethereum Index. It will measure the act of Bitcoin’s closest rival -- Ethereum. 


S&P Cryptocurrency Megacap Index will quantify the performance of Bitcoin and Ethereum digital assets weighted by market cap. 


Main points: 


Fetching Bitcoin and Ethereum to Wall Street, S&P believed S&P Bitcoin Index will track the performance of Bitcoin with S&P Ethereum Index. 


Far along in 2021, the S&P Digital Market Indices series will embrace other coins and broader-based indices such as large-cap and wide market benchmarks. 


Supported points: 


Three crypto indices launched by S&P Global- 


  • The index series comprise the S&P Ethereum Index, the S&P Bitcoin Index, and the S&P Crypto Mega Cap Index. 


  • The ticker signs for the three are SPETH, SPBTC, and SPCMC, correspondingly. The closing events the act of bitcoin and Ethereum, the company carefully. 


  • These indices are intended to measure the performance of a collection of digital assets (crypto assets) listed on familiar, open exchanges that meet the smallest liquidity and market capitalization criteria. 


  • The indices use Lukka Inc., a crypto data earner, as the data basis for digital asset pricing and reference data, through the Lukka Prime and Lukka mention data products. 


  • S&P Global speaks cryptocurrencies have become mainstream and seem to be here to stay.  


  • As more companies are offering crypto services and acceptance is growing international. In the interim, an S&P analyst trusts that bitcoin’s increase is reminiscent of the U.S. gold rush. 


To conclude, to transport transparency to the developing cryptocurrency market, index worker S&P Dow Jones Indices LLC on Monday went live with three cryptocurrency indices. The S&P’s indices will strive with Bloomberg’s crypto indices that size the performance of the major digital assets traded in the US dollar. 


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Shivangi Mujumdar

CBW - External Analyst


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