The S&P Dow Jones Indices, a major global data and research source, has unveiled its first cryptocurrency indicators amid a renewed boom in the cryptocurrency markets.
The company announced on Monday that it has launched three digital indicators related to the performance of the two largest cryptocurrencies: Bitcoin (BTC) and Ether (ETH).
Recently introduced indices include the S&P Bitcoin Index (SPBTC), the S&P Ethereum Index (SPETH) based on Ether, and the S&P Cryptocurrency MegaCap Index (SPCMC), which is designed to track the performance of BTC and ETH weighted by market value. All three indicators are immediately available on the S&P DJI website.
S&P DJI Crypto Indicators from May 4th. Source: S&P.
The company confirmed that the new crypto indicators are designed to measure the performance of cryptocurrencies listed on reputable public stock exchanges that meet minimum liquidity and market capital requirements. “The indicators aim to provide transparency in the new cryptocurrency market,” said S&P DJI.
According to the announcement, S&P cryptocurrency and reference data are provided by Lukka, an accounting and data company, for cryptocurrencies. The company is supported by S&P Global, the parent company S&P DJI, billionaire investor George Soros and CPA.com accounting consultant.
S&P DJI originally announced plans to launch cryptocurrency indices by the end of 2021, and it is said to aim to reach 550 digital assets.
The latest step taken by S&P DJI in the cryptocurrency market is an important milestone for the adoption of cryptocurrency through regular financing. The move comes amid a renewed rise in cryptocurrency markets as Ether – the second-largest cryptocurrency by market value – reached a new full-time high on Monday, exceeding $ 3400.