
According to a Tuesday report by Barron's, S&P Dow Jones Indices, the company behind the flagship S&P 500 index, has launched a new cryptocurrency index called "S&P Digital Markets 50."
The benchmark index includes 15 major cryptocurrencies as well as 35 publicly traded companies that are centered around crypto.
The new index is meant to provide investors with exposure to the burgeoning sector in a diversified way.
Notably, not a single asset accounts for more than 5% of the index, meaning that Bitcoin will not dominate.
In order to be eligible, individual cryptocurrencies should have a market cap of over $300 million, which means that hundreds of tokens could potentially qualify. Meanwhile, crypto-focused companies are supposed to have a market cap of over $100 million.
"S&P Digital Markets 50" will be getting rebalanced on a quarterly basis.
Tokenization twist
S&P has joined forces with blockchain company Dinari in order to tokenize the index. The tokens will be tradable on dShares, which is a platform for stocks and bonds on the blockchain.