S&P Starts cryptocurrency Indicators, debuting with Bitcoin along with Ether

S&P Dow Jones Indices presents three crypto indices to bring transparency to the emerging cryptocurrency market.
S&P Dow Jones Indices, a significant international source for index-based information and study, has introduced its first cryptocurrency indices amid a renewed explosion on crypto markets.The company¬†announced Monday that it launched three crypto indices attached to the performance of the two largest cryptocurrencies: Bitcoin (BTC) and Ether (ETH). The newly introduced indices consist of Bitcoin-based S&P Bitcoin Index (SPBTC), Ether-based S&P Ethereum Index (SPETH), and S&P Cryptocurrency MegaCap Index (SPCMC), which is designed to monitor the operation of BTC and ETH measured by market cap. Source: S&PThe firm emphasized that the new crypto indices are designed to gauge the operation of crypto assets listed on established, open exchanges that satisfy minimum liquidity and promote capicalitazion requirements. “The indices aim to bring transparency to the emerging cryptocurrency marketplace,” S&P DJI noted.According to the statement, S&P crypto pricing and reference information is supplied by crypto bookkeeping and information firm Lukka. The company is endorsed by S&P DJI’s parent firm S&P Global in addition to billionaire investor George Soros and bookkeeping advisor CPA.com.S&P DJI originally announced its plan to establish cryptocurrency indices in overdue 2021, reportedly targeting protection up to 550 electronic assets.S&P DJI’s most recent move to the crypto marketplace marks a significant landmark for cryptocurrency adoption by traditional finance. The move comes following a renewed rally on crypto markets, together with Ether — that the second largest crypto by market cap — hitting on a fresh all-time high above $3,400 on Monday.

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