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