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    Home » Crypto News » S&P Dow Jones Indices Expands Crypto Involvement With New Indexes

    S&P Dow Jones Indices Expands Crypto Involvement With New Indexes

    Author: Andrew Throuvalas

    Last Updated Jul 22, 2021 @ 13:02

    The new indexes broadly measure the performance of the cryptocurrency market at large. 

    Yesterday, the S&P Cryptocurrency Broad Market Digital Index (BDM) was launched by S&P Dow Jones Indices (S&P DJI). The new index is composed of multiple other subset indices.

    S&P DJI’s New Crypto Indices

    The BDM offers a general overview of how the broader cryptocurrency market is performing. At launch, it already tracks over 240 digital coins.

    Within the BDM are some other, narrower measures of the digital market. These subset indices, and their roles, are as follows:

    • The S&P Cryptocurrency LargeCap Index– Specifically measures the performance of the constituents with the greatest market caps.
    • The S&P Cryptocurrency BDM Ex-MegaCap Index– A measure of the broad digital market, but excluding bitcoin and ethereum.
    • The S&P Cryptocurrency BDM Ex-LargeCap Index– A measure of the broad digital market, but excluding constituents with the greatest market caps.
    • The S&P Cryptocurrency LargeCap Ex-MegaCap Index- Measures the performance of constituents with the highest market caps but excludes Bitcoin and Ethereum.

    Global Head of Innovation and Strategy at S&P DJI, Peter Roffman, says the company is “excited to bring this significant level of additional transparency to the cryptocurrency market” by giving “one of the broadest snapshots yet of this rapidly growing asset class.”

    Former Crypto Indices from S&P 

    The new indices expand a pre-existing list of Digital Market Indices measured by S&P. These include the S&P Bitcoin Index, S&P Ethereum Index, and the S&P Crypto Mega Cap Index (a combination of the former two).

    ADVERTISEMENT

    All digital market indices– old and new– use information from cryptocurrency data provider Lukka to determine pricing for each constituent.

    The addition of these indices to S&P DJI will provide further reassurance and insight to investors examining the cryptocurrency space while looking for reliable data and help reduce risk when entering such a volatile market.

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    About The Author

    Andrew Throuvalas
    More posts by this author

    Andrew is a content writer with a passion for Bitcoin. He became familiar with Bitcoin back in 2013, but began diligently studying the blockchain technology and its economic implications in 2017. Ever since, he’s believed in the network’s power to replace the current global monetary system, and provide financial freedom to billions worldwide.
    Contact: Medium | LinkedIn | Twitter

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