2021-7-14 20:03 |
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:
S&P Cryptocurrency Broad Digital Market (BDM) Index
S&P Cryptocurrency LargeCap Index – a subset of the BDM that measures the performance of the constituents with the largest market capitalization.
S&P Cryptocurrency BDM Ex-MegaCap Index – a subset of the BDM that excludes the constituents of the S&P Cryptocurrency MegaCap Index (Bitcoin and Ethereum).
S&P Cryptocurrency BDM Ex-LargeCap Index – a subset of the BDM that excludes constituents of the S&P Cryptocurrency LargeCap Index.
S&P Cryptocurrency LargeCap Ex-MegaCap Index – a subset of the BDM that measures the performance of the constituents of the S&P Cryptocurrency LargeCap Index, excluding the constituents of the S&P Cryptocurrency MegaCap Index.
These new cryptocurrency indices join the existing benchmarks that make up the S&P Digital Market Indices:
S&P Bitcoin Index – measures the performance of Bitcoin.
S&P Ethereum Index – measures the performance of Ethereum.
S&P Cryptocurrency MegaCap Index – measures the performance of Bitcoin and Ethereum digital assets.
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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