According to a press statement, data provider S&P Dow Jones Indices has added five new indices to its current crypto market benchmarks.
The world’s top index provider, S&P Dow Jones Indices (S&P DJI), announced today the introduction of its newest cryptocurrency indices, including the new S&P Cryptocurrency Broad Digital Market (BDM) Index. The BDM comprises around 240 currencies at debut and offers a broad performance picture of the cryptocurrency industry.
The primary event is the S&P Cryptocurrency Broad Digital Industry Index, which is based on the performance of over 240 different currencies and measures the overall health of the crypto market.
The index is part of S&P DJI’s newly established S&P Digital Market Indices, a collection of digital asset benchmarks.
The other four indices are basically subsets of the Broad Digital Market Index: the Ex-MegaCap Index includes all data from the Broad Digital Market Index with the exception of Bitcoin and Ethereum; the LargeCap Index concentrates on cryptocurrencies with “large” market capitalizations; Ex-LargeCap excludes Bitcoin and Ethereum, and the LargeCap Ex-MegaCap Index monitors data from the LargeCap set but without Bitcoin and Ethereum.
S&P Dow Jones entry into the crypto space
The Dow Jones Industrial Average and the S&P 500 are two of the most significant stock market indices produced by the S&P Dow Jones Indices. It announced its entrance into the crypto sector late last year, in collaboration with Lukka, a blockchain data firm, and has since developed indexes for Bitcoin, Ethereum, and their combined performance.
About S&P Dow Jones Indices
S&P Dow Jones Indices is the world’s biggest source of index-based ideas, data, and research, as well as the home of famous financial market indicators, including the S&P 500® and Dow Jones Industrial Average®. Products based on their indices have more assets than products based on indices from any other supplier in the world. S&P DJI has been inventing and producing indices across asset classes since Charles Dow created the first index in 1884, helping to define how investors measure and trade the markets.
S&P Dow Jones Indices is a subsidiary of S&P Global (NYSE: SPGI), which offers critical information to help people, businesses, and governments make informed choices.
