July 2, 2022
  • July 2, 2022
  • Home
  • Cryptocurrency
  • S&P Dow Jones Brings Bitcoin, Ethereum to Wall St with Cryptocurrency Indices

S&P Dow Jones Brings Bitcoin, Ethereum to Wall St with Cryptocurrency Indices

By on May 4, 2021 0

FILE PHOTO: A representation of the Bitcoin virtual currency is seen in front of a stock chart in this illustration taken on March 15, 2021. REUTERS / Dado Ruvic / Illustration

(Reuters) – The S&P Dow Jones indices have launched new cryptocurrency indices, he said on Tuesday, further integrating digital currencies, including bitcoin and ethereum, bringing them to Wall’s trading rooms Street.

The new indices, S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, will measure the performance of digital assets linked to them.

The list will expand to include additional pieces later this year, the division of financial data provider S&P Global said.

The company first announced the plan in December when it said it would cover more than 550 of the most traded coins and that its customers would be able to create custom indices and other benchmarking tools. on cryptocurrencies.

“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.

The indices will use data from New York-based virtual currency company Lukka.

Bitcoin, the most popular cryptocurrency, has seen a wild price rally after support from high profile companies such as Tesla and Bank of NY Mellon. Its price, however, has broken its records.

Ethereum, meanwhile, hit an all-time high on Monday after surpassing $ 3,000 for the first time over the weekend.

Report by Niket Nishant in Bengaluru; Editing by Shailesh Kuber and Arun Koyyur