The joint project of the CME Group, S&P Global, and News Corp, the S&P Dow Jones Indices, has announced today the launching of its first batch of crypto-focused indices. While S&P Dow Jones initially wanted to introduce the respective indices of the top 550 traded cryptos all at once back last year when it announced its plans, it has since dialed it down. As its launching indices, the project decided to just include the two most dominant digital assets via the market cap, namely Bitcoin (BTC) and Ethereum (ETH).
Alongside the S&P Bitcoin Index and S&P Ethereum Index, respectively tagged as SPBTC and SPETH, the firm also introduced the S&P Cryptocurrency MegaCap Index or the SPCMC. As per S&P Dow Jones, the SPCMC is specifically designed to keep up with the performance of the aforementioned cryptocurrency’s respective market caps. Notably, all three indices are now openly available on the project’s official website.
According to S&P Dow Jones, the newly-introduced indices intend to gauge the performance of several crypto assets that are currently listed on notable open exchanges that particularly meet the minimum requirement via liquidity and market cap. The company further noted that with the help of its partners, namely the data firm Lukka, these indices should bring forth better transparency surrounding the surging crypto space.
As of yesterday, SPBTC values at 7,678.36, SPETH at 29,405, and SPCMC at 5,895.