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S&P Dow Jones Launching Crypto Indexes in 2021

S&P Dow Jones Indices — a joint venture between S&P Global, the CME Group and News Corp — will debut cryptocurrency indexes in 2021, it has confirmed.

S&P Dow Jones Launching Crypto Indexes in 2021

In a press release on Thursday, S&P DJI describes Bitcoin (BTC) and altcoins as an “emerging asset class.”

The firm will partner with Lukka, a U.S. blockchain data provider, to launch the indexes, which will cover a reported 550 cryptocurrencies.

“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks,” Peter Roffman, global head of innovation and strategy at S&P DJI, state in the press release.

The move marks the latest commitment from Wall Street to embrace Bitcoin and other digital currencies, underscoring interest from the institutional sphere.

Source: FXPro

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