S&P Dow Jones Indices to launch cryptocurrency indexes

S&P Dow Jones Indices, a division of US financial data provider S&P Global, said it would launch cryptocurrency indexes in 2021.

Products under the s&P DJI brand will use data from New York-based Lukka for more than 550 of the most traded coins, one of the most well-known global index providers explained.

In a joint statement, the companies said that S&P clients would work with the firm to create individual indexes and other benchmarking tools for digital currencies.

“As digital assets such as cryptocurrencies become a rapidly developing asset class, it is time for independent, reliable, and user—friendly benchmarks,” said Peter Roffman, Director of innovation and strategy at S&P Dow Jones Indices.

Lukka CEO Robert Materazzi believes that their collaboration is another step towards reducing the gap between the crypto asset ecosystem and traditional financial services.

“In a fast-growing industry, it is critical to meet institutional standards when working with reputable brands like S&P DJI,” he added.

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