By Marko Vidrih on TheCapital.io
S&P Dow Jones Indices, a division of economic information supplier S&P International Inc, will launch cryptocurrency indices in 2021, reported Reuters.
S&P DJI-branded merchandise will use information from New York-based firm Lukka, which processes information on the costs of 550 cryptocurrencies. S&P purchasers will be capable of work with Lukka to create custom-made indices and different cryptocurrency benchmarking instruments.
S&P and Lukka mentioned in a joint assertion that extra dependable worth information will make it simpler for buyers to entry a brand new asset class and scale back dangers on this unstable market.
“With digital belongings akin to cryptocurrencies changing into a quickly rising asset class, the time is correct for impartial, dependable and user-friendly benchmarks,” mentioned Peter Roffman, world head of innovation and technique at S&P Dow Jones Indices.
Reuters notes that such a call by one of many world’s most well-known index suppliers might assist cryptocurrencies turn out to be an much more standard funding.
S&P Dow Jones Indices is a three way partnership between S&P International, CME Group and Information Company. The corporate’s most well-known indices are the S&P 500 and the Dow Jones Industrial Common (DJIA).
Featured picture by Natalie Murphy from Pixabay