S&P Dow Jones launching crypto indexes in 2021

S&P Dow Jones Indices — a three way partnership between S&P International, the CME Group and Information Corp — will debut cryptocurrency indexes in 2021, it has confirmed.

In a press launch on Thursday, S&P DJI describes Bitcoin (BTC) and altcoins as an “rising asset class.”

Bitcoin and altcoins hit Wall Road finance

The agency will accomplice with Lukka, a U.S. blockchain information supplier, to launch the indexes, which is able to cowl a reported 550 cryptocurrencies.

“With digital property equivalent to cryptocurrencies turning into a quickly rising asset class, the time is correct for unbiased, dependable and user-friendly benchmarks,” Peter Roffman, international head of innovation and technique at S&P DJI, state within the press launch.

“We’re excited to work with Lukka, who has been on the forefront of digital asset information providers, to advertise extra transparency on this nascent sector.”

The transfer marks the most recent dedication from Wall Road to embrace Bitcoin and different digital currencies, underscoring curiosity from the institutional sphere.

“Our collaboration with S&P DJI is yet one more milestone that bridges the hole between the crypto asset ecosystem and conventional monetary providers,” Robert Materazzi, CEO of Lukka, added.

“In a quickly maturing trade, it’s paramount to construct to institutional requirements when working with extremely revered manufacturers, equivalent to S&P DJI. Lukka is thrilled to assist drive ongoing innovation in collaboration with S&P DJI.”