To help investors make more informed decisions about digital assets, S&P Dow Jones Indices has launched a new crypto index. The aim is to provide information on crypto assets as well as publicly traded crypto-linked equities from one common index. This move responds to the growing investor requirements for tools to track the performances of crypto assets as well as related stocks to make informed financial decisions.
The S&P Digital Assets Index was announced on Tuesday, October 7 by S&P Dow Jones Indices, the group behind the S&P 500 and the Dow Jones Industrial Average. It has been designed in collaboration with Dinari, a provider of tokenized U.S. public securities.
Announcing the development, the New York-headquartered company said the broader crypto assets market has acquired a more established role in the global markets. It also noted that market participants are now viewing digital assets as a way to diversify or grow their financial portfolios.
“As with traditional financial markets, independent benchmarks can help bring transparency and accessibility to the digital asset ecosystem. With this latest expansion, S&P DJI reinforces its role as a trusted provider of benchmarks across traditional and alternative asset classes – offering market participants clarity and confidence as new markets like cryptocurrency emerge,” said Cameron Drinkwater, Chief Product & Operations Officer at S&P Dow Jones Indices.
A total of 35 crypto firms alongside 15 selected crypto assets will be made part of this index after thorough analysis.
“By making the S&P Digital Markets 50 investible via dShares, we are not just tokenizing an index, we are demonstrating how blockchain infrastructure can modernize trusted benchmarks,” said Anna Wroblewska, Chief Business Officer at Dinari.
Back in May, Coinbase had become the first crypto firm to have joined the prestigious S&P Global index. In June, Coinbase reportedly emerged as the best performing stock on the index.
From not having a crypto firm on the index up until four months ago — to now creating a dedicated index to track crypto assets and related stocks — the move reiterates the ongoing a pro-crypto sentiment in the U.S., that is being supported by President Donald Trump.
Bitgo, Gemini, and Tron are among crypto firms that have recently gone public in the U.S.