Global index-based data and research resource S&P Dow Jones Indices launched the first cryptocurrency indices as the crypto markets were on the rise again.
The company announced on Monday that it has launched three new cryptocurrency indexes tied to the performance of the two biggest cryptocurrencies Bitcoin (BTC) and Ether (ETH).
The newly launched indices include the Bitcoin-based S&P Bitcoin Index (SPBTC), which tracks the performance of BTC and ETH by weight of market cap, the Ether-based S&P Ethereum Index (SPETH), and the S&P Cryptocurrency MegaCap Index (SPCMC). All three indexes are available on S&P DJI’s website.
The company announced that the new crypto indices are designed to measure the performance of crypto assets listed on well-known and open exchanges, meeting minimum liquidity and market value requirements. According to S&P DJI’s statement, the new indices aim to bring transparency to the growing cryptocurrency market.
In the announcement, it was stated that crypto pricing and reference data will be provided by crypto accounting and data company Lukka. Lukka is backed by S&P DJI umbrella company S&P Global, billionaire investor George Soros and accounting consulting firm CPA.com.