S&P Dow Jones Indices is eyeing the launch of a crypto index next year


Market index provider S&P Dow Jones Indices is diving into the crypto market with the help of crypto startup Lukka. 

Formed in 2012 by S&P Global, S&P Dow Jones Indices is the firm behind Wall Street's ubiquitous indices including Wall Street's S&P 500 and Dow Jones Industrial Average. S&P DJI plans to leverage Lukka's data services, including Lukka Reference and Lukka Prime, which provides a single price for crypto assets based on information from several exchanges, over-the-counter trading desks, and wallets.  

S&P DJI expects to soon launch customizable crypto index capabilities, which will allow asset-management firms to build their own investment vehicles, such as exchange-traded products. In 2021, S&P DJI plans to launch its own branded index — essentially, an S&P 500-like index but for the crypto market. 

“For more than a century, S&P Dow Jones Indices has been a pioneer in creating innovative and relevant indices and benchmarks that reflect the global market’s ongoing growth and evolution," said Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices. “With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks."

S&P would not be the only financial services firm active in the crypto index market. Nasdaq, the global stock exchange-operator, recently launched the Nasdaq Crypto Index with Brazilian fund manager Hashdex to serve as the basis for an exchange-traded fund on the Bermuda Stock Exchange. In 2018, financial data behemoth Bloomberg LP launched the Galaxy Bloomberg Crypto Index, a benchmark of the largest cryptocurrencies. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Investing giant Pimco is considering trading cryptocurrencies

Pimco, a $2 trillion investment firm, could potentially begin trading spot cryptocurrencies, the firm’s chief investment officer Daniel Ivascyn confirmed to CNBC.  The firm, which has engaged with the market via crypto-linked securities, is now looking at “trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the […]
Read Full Story
Oct 20, 2021, 6:59PM UTC

Here's how one of NYSE's largest market makers is breaking into DeFi

On this episode of The Scoop, founder Ari Rubenstein and founder & CEO Ryan Sheftel joined host Frank Chaparro to discuss the launch of their new crypto firm, called Radkl. Radkl, which was born out of trading firm and New York Stock Exchange market maker GTS, is a new digital asset trading business. GTS currently […]
Read Full Story
Oct 20, 2021, 2:23PM UTC