S&P Dow Jones Indices to Launch Over 550 Cryptocurrency Indexes in 2021
This will allow exchanges to provide derivatives that settle based on these indexes. S&P Dow Jones Indices is the largest provider of indices in the world.
S&P DJI has partnered with New York-based cryptocurrency startup Lukka to create the S&P DJI-branded products. In a joint statement released on Thursday, Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices. said:
“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks,”
Indexes created by the most well known index provider in the world could help cryptocurrency reach mainstream adoption.
There is even a possibility that the SEC would be more likely to approve a cryptocurrency ETF based on these indexes. This could make cryptocurrency more accessible for major financial institutions and retail investors alike.
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