In a recent article, Reuters reported that S&P Dow Jones Indices plans to launch indexes based on the performance of more than 550 top-of-the-line digital currencies, including Bitcoin.
The indexes will be launched with help from cryptocurrency company Lukka headquartered in New York.
This will be the most recent financial giant to enter the crypto industry.
Customized crypto indices for S&P clients
S&P Dow Jones Indices will enable its customers to make customized indexes, as well as other benchmarking tools based on crypto, according to a statement by Lukka and S&P.
The two companies intend to provide more pricing data to investors so that they can seamlessly work with the new type of assets and face fewer risks on these volatile and speculative markets.
Global head of innovation and strategy at S&P, Peter Roffman, believes that, now that the crypto industry has matured enough, it is time to offer reliable and user-friendly tools to its market participants.
The entrance of S&P Dow Jones Indices could ensure that crypto will take a step closer to becoming mainstream assets.
Alex Dovbnya
Denys Serhiichuk