In a surprising announcement made on Monday, a major resource for index-based research and data, S&P Dow Jones, said that it had introduced its first indices of digital assets as the crypto markets continue to grow exponentially.
The statement further added that it had launched a total of three indices, and those are tied to the value of the world’s top two performing crypto coins, Ethereum and Bitcoin. It mentioned that the three would include its BTC-based SPBTC, ETH-based SPETH, and Mega Cap Index (SPCMC), which are specifically designed to track the performance of the leading crypto asset.
S&P’s indices were available immediately after the announcement. Per the company’s official statement, these indices will be tracking the performance of major digital assets recognized by open platforms as they meet up with market capitalization and liquidity requirements.
Besides that, the reference data and pricing information would be provided by a company called Lukka, which is backed by Geroge Soros, CPA.com, and S&P Global. This year, the firm announced its plans to launch crypto indices covering more than five hundred digital assets.
Meanwhile, supporters of cryptocurrencies see this as a major step towards the adoption of the space by mainstream financial firms. Plus, it comes amid a boom in the crypto markets, with the second most popular coin, Ethereum, breaking its all-time high and hitting $3,400.