S&P Global, the parent company of S&P Dow Jones Indices, has launched three cryptocurrency indexes. One tracks the performance of Bitcoin, the other tracks the performance of Ethereum, and the third measures the performance of Bitcoin and Ethereum.

S&P Global Launches 3 Crypto Indices

S&P Global, the parent company of S&P Dow Jones Indices LLC, launched the “S&P Digital Market Index” on Monday.

The index series includes S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index. The three stock symbols are SPBTC, SPETH and SPCMC. The company detailed the latter “measure the performance of Bitcoin and Ethereum.”

S&P Global released three crypto indexes.Source: S&P Global

The company explained: “These indexes are designed to bring transparency to the emerging cryptocurrency market.”

These indexes are designed to measure the performance of a series of digital assets (crypto assets) listed on recognized open exchanges that meet minimum liquidity and market capitalization standards.

These indexes use Lukka Prime and Lukka reference data products, using encrypted data provider Lukka Inc. as a data source for digital asset pricing and reference data.

Standard & Poor’s Global (S&P Global) stated that as more companies provide encryption services and global adoption increases, cryptocurrencies have become mainstream and seem to continue to exist. At the same time, Standard & Poor’s (S&P) analysts believe that the rise of Bitcoin is reminiscent of the gold rush in the United States.

What do you think of S&P’s launch of cryptocurrency index? Let us know in the comments section below.

Picture Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. For the use or reliance on any content, goods or services mentioned in this article or any loss or loss related to it, the company or the author shall not directly or indirectly bear any responsibility.

See also  Lockheed Martin and General Motors join forces to develop a rover for NASA's Alemis moon mission