SP Dow Jones indices, one of the world’s leading index-based research and data resources, launched its first cryptocurrency indices in a renewed boom in the cryptocurrency market.
on Monday The company announced the launch of three cryptocurrency indices tied to the performance of the two largest cryptocurrencies: Bitcoin (BTC) and Ether (ETH)..
The newly introduced indices are the Bitcoin-based S P Bitcoin Index (SPBTC), the Ether-based S P Ethereum Index (SPETH) and the S P Cryptocurrency MegaCap Index (SPCMC), which shows the performance weighted according to BTC and ETH should map according to market capitalization. All three indices are now available on the SP DJI website.
The company has highlighted this The new crypto indices are used to measure the performance of crypto assets that are listed on recognized and open exchanges and meet the minimum requirements for liquidity and market capitalization. “The indices are intended to bring transparency to the emerging cryptocurrency market,” said SP DJI.
According to the ad, Cryptocurrency data and the accounting firm Lukka offer price and benchmark data for SP cryptocurrencies. The company is backed by SP DJI’s parent company, SP Globalas well as billionaire George Soros and accounting advisor CPA.com.
SP DJI initially announced its plan to launch cryptocurrency indices in late 2021with the aim of covering up to 550 digital assets.
The latest move by SP DJI marks an important milestone for the introduction of cryptocurrencies in traditional finance. The move comes amid a renewed rally in the crypto markets;; Ether – the second largest cryptocurrency by market capitalization – hit a new all-time high above $ 3,400 on Monday.