S&P DJI unveils digital asset indices

May 4th, 2021 | By | Category: ETF and Index News

S&P Dow Jones Indices has unveiled the S&P Digital Market Indices, a suite of proprietary benchmarks targeting the digital assets market.

S&P DJI unveils its first crypto asset indices

The first S&P Digital Market Indices are linked to the performance of bitcoin and ethereum.

The suite comprises three indices at launch – the S&P Bitcoin Index and S&P Ethereum Index track the US dollar price performance of bitcoin and ethereum while the S&P Cryptocurrency MegaCap Index measures the combined performance of bitcoin and ethereum weighted by total market capitalization.

The indices harness pricing data supplied by Lukka, a New York City-based digital asset software company.

Lukka’s pricing capabilities include Lukka Prime, the world’s first crypto-asset pricing methodology focused on fair market value which is aimed at aligning the crypto ecosystem to GAAP and IFRS guidelines.

S&P DJI expects to add additional single and multi-token crypto benchmarks later this year. All of the indices will focus exclusively on digital assets trading on recognized cryptocurrency exchanges that satisfy strict oversight, efficiency, transparency, and integrity criteria.

Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices, said: “Traditional financial markets and digital assets are no longer mutually exclusive markets. As cryptocurrency becomes more mainstream, investors now have access to reliable and transparent benchmarks backed by institutional quality pricing data. We look forward to further expanding our new family of Digital Market Indices and bringing much-needed transparency to this exciting market.”

In addition to the new S&P Digital Market Indices, S&P DJI also launched customizable cryptocurrency indexing solutions at the end of last year.

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