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S&P Dow Jones launches multiple cryptocurrency indices

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Shivangi Mujumdar Follow

INDIA

Jul, 14 2021

Jul, 14 2021

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S&P Dow Jonesh has now announced the launch of multiple cryptocurrency indices. On New York, the world’s leading index provider, S&P Dow Jonesh made this announcement which also included more than 240 coins at launch. On July 13, the announcement was made with a cryptocurrency market’s wide performance snapshot.


All about the launch:

The company indices went live with new digital asset-focused products group. It also included the one that can track more than 240 cryptos during the launch.


The launch created on the Podcast was released in May while S&P went to market with other indices. These indices focused was more on ether, bitcoin and one that has the ability of tracking down the major cryptocurrencies.


While going live for Cryptocurrency Broad Digital Market (BDM) Index, the which S&P said "provides a wide performance snapshot of the cryptocurrency market and includes more than 240 coins at launch."


Further Global Head of Innovation and Strategy at S&P Dow Jones Indices also added a statement "For more than a century, our indices have offered insight into how the markets are performing. Now, with the introduction of the S&P Cryptocurrency Broad Digital Market Index, we’re providing that answer to cryptocurrency investors,”


What shall the indices be using:

The indices shall use the price data from the Lukka. It is a popular data provider and a crypto software provider. It shall understand the eligibility universe along with the individual constituents pricing.


The first announcement of S&P DJI on new cryptocurrency asset index capabilities was made with Lukka in December 2020.


As the cryptocurrency assets market seems to be growing, there has been an index-based solutions with transparent benchmarking depending on the assets of crypto and blockchain which seem to be quite important than ever. With Digital Market Indices it shall be easy for investors to assess and access such emerging technology-driven asset.


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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