S&P Dow Jones Indices to launch cryptocurrency indices

S&P Dow Jones Indices, a unit of the American financial data provider S&P Global, said it would launch cryptocurrency indices in 2021.

Lukka is thrilled to help drive ongoing innovation in collaboration with @SPDJIndices! S&P DJI will provide S&P DJI-branded & customized indexing & benchmarking solutions supported by Lukka’s leading crypto asset pricing data. Read the full article: https://t.co/62DbNXAJ0N

— Lukka (@LukkaTech) December 3, 2020

Products under the S&P DJI brand will use data from Lukka, the New York-based company, for more than 550 of the most-traded coins, according to one of the world’s leading index providers.

In a joint statement, the companies said that S&P clients would be able to work with the firm to create bespoke indices and other benchmarking tools for digital currencies.

“As digital assets such as cryptocurrencies become a rapidly developing asset class, the time has come for independent, reliable and user-friendly benchmark values,” said Peter Roffman, Director of Innovation and Strategy at S&P Dow Jones Indices.

Lukka CEO Robert Materazzi believes that their collaboration is another step toward closing the gap between the crypto-asset ecosystem and traditional financial services.

“In a rapidly developing industry, it is crucial to meet institutional standards when working with such respected brands as S&P DJI,” he added.

Earlier, the Singapore Exchange (SGX) added cryptocurrency indices to its platform—the first in its history.

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