S&P Dow Jones Indices (S&P DJI), the world’s leading index provider, launched its five new cryptocurrency index products. The company now has eight cryptocurrency indices in total.
The first newly added index is the “S&P cryptocurrency Broad Digital Market (BDM) Index”. It provides a broad performance snapshot of the cryptocurrency market and includes more than 240 coins at launch.
According to them, the newly launched index is part of an expansion of its recently launched series of digital asset benchmarks. In addition to the S&P Cryptocurrency Broad Digital (BDM) Index, the firm also launched four other crypto indices.
They are
- S&P Cryptocurrency LargeCap Index
- S&P Cryptocurrency BDM EX-MegaCap Index
- S&P Cryptocurrency BDM EX-LargeCap Index
- S&P Cryptocurrency LargeCap EX-MegaCap Index
These new indices join three existing ones (S&P Bitcoin index, S&P Ethereum Index, and S&P Cryptocurrency MegaCap Index.) All the indexes use pricing data from Lukka, a crypto software and data provider, to determine the composition of each respective benchmark.
Also Read: Online broker SelfWealth to add crypto in its trading platform
“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,” said Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices.
