NEW YORK, July 13, 2021 /PRNewswire/ — S&P Dow Jones Indices (S&P DJI), the world’s leading index provider, announced today the launch of its latest cryptocurrency indices including the new S&P Cryptocurrency Broad Digital Market (BDM) Index. The BDM provides a wide performance snapshot of the cryptocurrency market and includes more than 240 coins at launch.
The index is part of an expansion of S&P DJI’s recently launched series of digital asset benchmarks, the S&P Digital Market Indices. The new indices being added include the following:
These new cryptocurrency indices join the existing benchmarks that make up the S&P Digital Market Indices:
The indices use pricing data from Lukka, a crypto software and data provider, to determine the eligibility universe and pricing of individual constituents. S&P DJI’s Index Committee administers the indices. S&P DJI first announced new cryptocurrency asset index capabilities with Lukka in December 2020.
The market for cryptocurrency assets continues to grow and with that, transparent benchmarking and index-based solutions based on crypto and blockchain assets are more essential than ever. The Digital Market Indices will make it easier for investors to access and assess this emerging technology-driven asset class while potentially mitigating some of the common risks associated with this traditionally speculative market.
“For more than a century, our indices have offered insight into how the markets are performing. Now, with the introduction of the S&P Cryptocurrency Broad Digital Market Index, we’re providing that answer to cryptocurrency investors,” said Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices. “The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap. We’re excited to bring this significant level of additional transparency to the cryptocurrency market.”
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SOURCE S&P Dow Jones Indices