S&P Dow Jones Indices, creator of the S&P 500 and Dow Jones Industrial Average, has launched the S&P Digital Markets 50 Index, which addresses growing investor demand for digital assets.
The S&P Digital Markets 50 Index, developed with the participation of BlockDinari, a company, will bring together 15 major cryptocurrencies and 35 crypto-related stocks. The latter includes stocks from most companies working in the cryptocurrency, blockchain, and related technologies sectors.
Cryptocurrencies and the entire digital asset industry have emerged from the fringes and taken a stronger position in global markets, noted Cameron Drinkwater, Chief Product Officer at S&P Dow Jones Indices.
The expanded suite of S&P DJI indices offers market participants consistent, rules-based tools for assessing and entering this segment.
S&P has previously launched indices encompassing multiple asset classes, each focused solely on digital assets, but combining stocks and cryptocurrencies is the company’s first attempt. Furthermore, investing in such an index was not possible in traditional financial markets.