Sunday, January 17, 2021
Home Crypto News Market S&P Dow Jones To Launch Index For Cryptocurrency In 2021

S&P Dow Jones To Launch Index For Cryptocurrency In 2021

- Advertisement -

S&P Dow Jones Indices, the financial data provider of S&P Global Inc, announced that they would launch cryptocurrency indexes in 2021. This makes them an influential finance company to enter the cryptocurrency world.

New York-based crypto company Lukka provides the exact price data for S&P DJI. As the cryptocurrency asset market has continued to grow in recent years, investor interest in index-based cryptocurrency solutions has increased. Showing an increasing interest in reliable price data for institutions.

S&P customers will be able to work with the index provider to create custom indices and other cryptocurrency benchmarking tools, S&P and Lukka said. It also states that S&P and Lukka hope that more reliable price data will make it easier for investors to access cryptocurrency and reduce some of the highly volatile and speculative market risks.

“Digital assets like cryptocurrency are becoming rapidly emerging asset class, the time is right for independent, reliable, and easy-to-use benchmarks,” said Peter Roffman, a global head of innovation and strategy S&P Dow Jones Indices.

This does not mean that the Dow Jones or the S & P500 includes crypto indexes, but they can offer cryptocurrency-based indices to other exchanges. This means that if crypto is provided with the world’s best-known index providers, investors could have easier exposure and more trust in crypto.

This partnership with S&P DJI is a milestone that can bridge the gap between cryptocurrencies and traditional financial services.

Cryptocurrency has been around for more than a decade and has attracted more interest from major financial companies in recent years. Major companies, including Fidelity Investments and Japan’s Nomura Holdings Inc, have begun to store bitcoins and other cryptocurrencies for institutional investors, while major exchanges have started to offer bitcoin derivatives.

The emergence of a more mainstream market infrastructure makes bitcoin more accessible to institutional investors. Hedge fund managers such as Paul Tudor Jones and Stanley Druckenmiller say they have incorporated bitcoin into their broad investment strategies.

Read Also:

- Advertisement -
Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master in Business Administration degree and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Reasons Behind Chainlink (LINK) Price Making New All Time High

Chainlink (LINK) price achieved new highs increasing over $20 touching 22 USD. The price of LINK has risen by close to 30% in the...

SIMBA Chain Got A $1.5 Million Contract From The U.S. Office Of Naval Research To Develop Blockchain-Based Solution For Critical Military Weaponry Parts

SIMBA Chain, a blockchain-based company, has been received a contract of $1.5 million to create a system for predicting demand for critical parts of...

Another Cryptocurrency Exchange Backed XRP: “We Will Continue Listing XRP”

The U.S. financial authority, the SEC, has sued Ripple over the XRP sales. After the securities lawsuit, many popular cryptocurrency exchanges removed XRP from...

A Chinese Hospital Started Issuing Electronic Invoices On Blockchain Technology

The state hospital of Chengmai County in Hainan Province, which positions itself as the center of technology development in China, has released the first...

Kraken Allow Buying Of Monero With A Debit Or Credit Card

The Monero team tweets that it is possible to buy Monero directly on the Kraken crypto exchange with debit or credit card. https://twitter.com/monero/status/1349452657166065664

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.