S&P Launches Indices for Bitcoin and Ethereum

S&P Dow Jones Indices has launched 3 indices related to cryptocurrencies & specifically to Bitcoin, Ethereum amid a surge on crypto markets.

May 4, 2021 | AtoZ Markets – S&P Dow Jones Indices, a division of US financial data provider S&P Global, has launched three crypto indices based on the performance of Bitcoin, Ethereum.

The newly introduced indices include 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 track the performance of BTC and ETH weighted by market cap. All three indices are immediately available on the S&P DJI website.

The new crypto indices, according to the firm, are intended to track the performance of crypto assets listed on well-known, transparent exchanges that meet minimum liquidity and market capitalization criteria. S&P DJI said, “The indices aim to bring clarity to the evolving cryptocurrency market.”

S&P DJI had previously stated that it would launch cryptocurrency indices in late 2021, with coverage of up to 550 digital assets.

Based in New York, Lukka, a crypto accounting, and data firm, provides S&P crypto pricing and reference data, according to the announcement. S&P DJI’s parent company, S&P Global, as well as billionaire investor George Soros and accounting advisor CPA.com, are all investors in the company.

At the time of writing, Bitcoin was trading at $56,188, down 3.95%, while Etherreum at $3,356, up 5.78% on Tuesday.

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