S&P Dow Jones will add Crypto Indexes in 2021

On Thursday, just a few days after Bitcoin broke its all-time high mark, S & P Dow Jones Indices announced the launch of cryptocurrency indexes on 550 top coins. The launch of digital currencies indices is planned for 2021.

Crypto Hits Wall Street  

Since 1882, S&P Dow Jones Indices LL is one of the leaders on the financial markets which has been providing investable and benchmark indices for more than a century. The company is a joint venture between S&P Global, the CME Group, and News Corp.

Investors who want to benefit from the new products under the major financial data provider`s name will have the ability to work with S&P Dow Jones Indices to create customized indices or benchmarks on cryptocurrencies. The innovative products will use data from a New-York based digital assets company Lukka.

“We're excited to work with Lukka, who has been at the forefront of digital asset data services, to promote more transparency in this nascent sector,” said Peter Roffman, S&P Dow Jones Indices` global head of innovation and strategy.

“Our collaboration with S&P DJI is yet another milestone that bridges the gap between the crypto asset ecosystem and traditional financial services," commented Robert Materazzi, CEO of Lukka. "Customers with crypto data requirements will soon have access to the most trusted data in the industry underpinned by Lukka's institutional-quality standards, such as AICPA SOC Controls. In a rapidly maturing industry, it is paramount to build to institutional standards when working with highly respected brands, such as S&P DJI. Lukka is thrilled to help drive ongoing innovation in collaboration with S&P DJI."

S&P Dow Jones will Change the Market

Of course, the leading index provider is going to offer investors easy access to virtual currencies as an asset class, in this way helping the entire industry. How? This significant move has all chances to reduce the super-high volatility of the crypto market we face these days.

"With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable, and user-friendly benchmarks," said Roffman.

The S&P Dow Jones step towards virtual currencies was made just a few days after the price of the most advanced coin hit an all-time high level. Prominent figures of financial markets are coming closer to crypto day by day.

Earlier this week Larry Fink, CEO of BlackRock shifted his beliefs from 2017`s “bitcoin is an index for money laundering” to “bitcoin could possibly become a global market”.