Global leader of benchmark indices S&P Dow Jones is building a new product based on digital assets
S&P Dow Jones Indices, a global leader in providing investable and benchmark indices to the financial markets, will be launching a cryptocurrency index in 2021, according to the official press-release. The product will be built in cooperation with Lukka, a leading New York City-based crypto asset software and data company.
The launching of the cryptocurrency index is explained by an increased demand from the investors. Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices, noted that the cryptocurrency benchmarks will facilitate the process of working with digital assets and shield investors from speculative risks, intrinsic to markets.
“Our collaboration with S&P DJI is yet another milestone that bridges the gap between the crypto asset ecosystem and traditional financial services,” said Robert Materazzi, CEO of Lukka
S&P Dow Jones is not the first company to launch the cryptocurrency index. In 2019, a similar product was offered to the market by world’s second largest stock exchange, NASDAQ. It created an index based on top 100 cryptocurrencies, dubbed CIX100.