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S&P Dow Jones Indices to Launch Cryptocurrency Indexes in 2021

UTC by Daria Rud · 3 min read
S&P Dow Jones Indices to Launch Cryptocurrency Indexes in 2021
Photo: Depositphotos

The initiative is expected to make it easier for investors to get access to this still new asset class. Besides, it may decrease risks associated with the highly volatile and speculative crypto market. 

The leading provider of investable and benchmark indices to the markets S&P Dow Jones Indices announced Thursday it would launch cryptocurrency indices in 2021. The move would allow the company to finally enter the crypto industry.

To launch cryptocurrency indices, S&P Dow Jones Indices partnered with New York-based Lukka, crypto-asset software and data company. According to the press release, S&P Dow Jones Indices will use the data from the latest on the top 550 coins.

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. We’re excited to work with Lukka, who has been at the forefront of digital asset data services, to promote more transparency in this nascent sector.”

The initiative is expected to make it easier for investors to get access to this still new asset class. Besides, it may decrease risks associated with the highly volatile and speculative crypto market.

Lukka CEO Robert Materazzi commented:

“Our collaboration with S&P DJI is yet another milestone that bridges the gap between the crypto asset ecosystem and traditional financial services. Customers with crypto data requirements will soon have access to the most trusted data in the industry underpinned by Lukka’s institutional-quality standards, such as AICPA SOC Controls.”

He further said:

“In a rapidly maturing industry, it is paramount to build to institutional standards when working with highly respected brands, such as S&P DJI. Lukka is thrilled to help drive ongoing innovation in collaboration with S&P DJI.”

Cryptocurrencies have been around for over a decade. However, they started attracting more interest from large financial companies not long ago. With cryptocurrency indices launch, S&P DJI will be the last fintech giant to join this class.

About S&P Dow Jones Indices

S&P Dow Jones Indices is a joint venture between S&P Global, the CME Group, and News Corp that was launched in 2012. With more than 120 years of experience, the company helps investors globally to make decisions with conviction. It produces, maintains, licenses, and markets stock market indices as benchmarks and as the basis of investable products. Currently, the company operates in 15 cities worldwide, including New York, London, Frankfurt, Singapore, Hong Kong, Sydney, Beijing, and Dubai.

The DJI has over 130,000 indexes. The most popular of them are the S&P 500 and the Dow Jones Industrial Average (DJIA).

About Lukka

Lukka has been the largest digital asset institution that offers middle and back-office software and data solutions since 2014. Lukka bridges the gap between the complexities of blockchain data and traditional business needs. It converts crypto data into auditable information to support management, financial, and regulatory reporting. All of its products correspond to institutional standards.

Among Lukka’s customers are crypto exchanges, accounting firms, financial auditors, fund administrators, miners, protocols, individuals. Its partners include such companies as Circle, OKCoin, ErisX, and more.

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