Digital Assets: Ultimate Validation? S&P Dow Jones To Launch Crypto Indexes In 2021

December 3, 2020 | Digital Assets, Latest News, News

“The indices will bridge the gap between the crypto asset ecosystem and traditional financial services.”

S&P Dow Jones Indices (S&P DJI) and Lukka, the New York City-based crypto-asset software and data company, are partnering to launch S&P DJI-branded and customized indexing and benchmarking solutions for global cryptocurrency assets. Lukka will provide its proprietary crypto asset pricing data. (CISION PR Newswire)

In a statement, S&P Dow Jones Indices referred to the rising investor interest in cryptocurrency assets and the need for reliable pricing data.

Emerging technology-driven asset class

The collaboration between S&P DJI and Lukka will create cryptocurrency asset index capabilities. These will provide ease of access to investors. They will also mitigate risks associated with an “emerging technology-driven asset class” that had a speculative history.

“For more than a century, S&P Dow Jones Indices has been a pioneer in creating innovative and relevant indices and benchmarks that reflect the global market’s ongoing growth and evolution,” said Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices.

“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable, and user-friendly benchmarks.”

Institutional standards

“Our collaboration with S&P DJI is yet another milestone that bridges the gap between the crypto asset ecosystem and traditional financial services,” said Robert Materazzi, CEO of Lukka. “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.”

In a rapidly maturing industry, it is paramount to build to institutional standards when working with highly respected brands, such as S&P DJI.

Singapore Exchange already off the mark with crypto indices

In September, the SGX announced a collaboration with UK-based cryptocurrency market data provider CryptoCompare, to launch crypto indices under its SGX iEdge index suite.

The first such indices are the iEdge Bitcoin Index and iEdge Ethereum Index. They mark the SGX Index Edge’s entry into the digital currency asset class.

As of December 3, the iEdge Bitcoin Index was at 4,430.22 while the iEdge Ethereum Index showed 7,150.27.

Related Story:  Singapore Exchange Firsts – Issues Digital Bond; Launches Crypto Indices

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