S&P Dow Jones launches S&P Cryptocurrency Broad Digital Market Index

The world's leading index provider, S&P Dow Jones Indices, today announced the launch of its latest cryptocurrency indices which includes the new S&P Cryptocurrency Broad Digital Market (BDM) Index.

The BDM includes more than 240 coins at launch, and covers a performance snapshot of the cryptocurrency market. This is part of an expansion of S&P DJI's recently launched series of digital asset benchmarks, the S&P Digital Market Indices

Several new cryptocurrency indices will be joining the existing benchmarks that make up the S&P Digital Market Indices, including S&P Bitcoin Index  which measures the performance of Bitcoin, S&P Ethereum Index which measures the performance of Ethereum, and S&P Cryptocurrency MegaCap Index  which will measure the performance of Bitcoin and Ethereum digital assets.

Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices commented on the launch:

"For more than a century, our indices have offered insight into how the markets are performing. Now, with the introduction of the S&P Cryptocurrency Broad Digital Market Index, we're providing that answer to cryptocurrency investors.The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap. We're excited to bring this significant level of additional transparency to the cryptocurrency market."

The addition of cryptocurrency indices to wall street, demonstrates the global interest in digital currencies, and the demand by investors which is being met by global institutions such as S&P Dow Jones.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.