S&P Dow Jones Launches Crypto Indexes

Cryptocurrencies have taken a new step in the traditional investing world after S&P Dow Jones unveiled indices based on the three major digital currencies.
The S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index will track the performance of digital assets linked to currencies.
âTraditional financial markets and digital assets are no longer mutually exclusive markets,â said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
The launch comes at a time when cryptocurrencies outside of bitcoin are booming. Earlier this week, Ethereum crossed the $ 3,000 mark, quadrupling its value for 2021.
The involvement of a major index provider like S&P Dow Jones should attract more institutional investors, according to market participants.
âThis is important because a large portion of the institutional investor community base their products and performance on these widely accepted index providers,â said Henson Orser, chairman of Komainu, a regulated, jointly-owned digital asset custodian. by Nomura, CoinShares and Ledger.
“[The launch of the index] will certainly lead to wider involvement, as allotment supporters within companies have additional justification for gaining internal and external approval of the launch, âOrser told Funds Europe.
© 2021 funds europe