New index measures the efficiency of greater than 240 cryptocurrency cash
NEW YORK, July 13, 2021 /PRNewswire/ — S&P Dow Jones Indices (S&P DJI), the world’s main index supplier, introduced at the moment the launch of its newest cryptocurrency indices together with the brand new S&P Cryptocurrency Broad Digital Market (BDM) Index. The BDM supplies a large efficiency snapshot of the cryptocurrency market and contains greater than 240 cash at launch.
The index is a part of an growth of S&P DJI’s just lately launched collection of digital asset benchmarks, the S&P Digital Market Indices. The brand new indices being added embody the next:
These new cryptocurrency indices be a part of the prevailing benchmarks that make up the S&P Digital Market Indices:
The indices use pricing knowledge from Lukka, a crypto software program and knowledge supplier, to find out the eligibility universe and pricing of particular person 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 marketplace for cryptocurrency property continues to develop and with that, clear benchmarking and index-based options based mostly on crypto and blockchain property are extra important than ever. The Digital Market Indices will make it simpler for traders to entry and assess this rising technology-driven asset class whereas doubtlessly mitigating a few of the frequent dangers related to this historically speculative market.
“For greater than a century, our indices have supplied perception into how the markets are performing. Now, with the introduction of the S&P Cryptocurrency Broad Digital Market Index, we’re offering that reply to cryptocurrency traders,” stated Peter Roffman, World Head of Innovation and Technique at S&P Dow Jones Indices. “The growth of our Digital Market Indices household offers one of many broadest snapshots but of this quickly rising asset class with the power to slice and cube by market cap. We’re excited to convey this important degree of further transparency to the cryptocurrency market.”
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SOURCE S&P Dow Jones Indices