S&P Global plans to launch a new benchmark index tracking a broad range of digital assets and blockchain-related companies, marking a growing recognition of the cryptocurrency industry by traditional finance.
S&P announced on Tuesday that the S&P Digital Markets 50 Index, created in collaboration with tokenization company Dinari, includes 15 cryptocurrencies with a market capitalization of at least $300 million and 35 publicly traded companies in the industry with a market capitalization of at least $100 million.
The constituent stocks have not yet been disclosed, but no single constituent will exceed 5% of the index. Some of the largest companies in the industry include MicroStrategy (MSTR), cryptocurrency exchange Coinbase (COIN), and Bitcoin mining company Riot Platforms (RIOT).
Cameron Drinkwater, Chief Product and Operations Officer at S&P Dow Jones Indices, stated that the growth of the digital asset ecosystem has shifted cryptocurrencies "from the fringes to a more mature role in the global market."
While the index cannot be directly invested in, it serves as a key benchmark for tracking market performance and often supports exchange-traded funds (ETFs) and other investment products.
Dinari plans to issue a tokenized version of the index, called "dShare," which will allow investors to gain direct exposure. The investable version is expected to be launched by the end of 2025.
One of the key significances of S&P entering cryptocurrency indexing is that passive ETFs may one day track the performance of the Digital Markets 50 Index, just as traditional index funds mirror stock benchmarks.
For example, the SPDR S&P 500 ETF tracks the S&P 500 Index, allowing investors to gain broad market exposure through a single product.
Several cryptocurrency index funds already exist. The Bitwise 10 Crypto Index Fund (BITW) tracks the Bitwise 10 Index, which includes the largest digital assets by market capitalization.
Similarly, Hashdex's Nasdaq cryptocurrency index products—including Brazil's HASH11 and the U.S. Hashdex Nasdaq Cryptocurrency Index ETF (NCIQ)—track the Nasdaq Cryptocurrency Index, providing diversified exposure to major cryptocurrencies through regulated exchange-traded products.
Meanwhile, recognition of tokenization as a transformative financial technology is growing.
As Cointelegraph recently reported, the U.S. Securities and Exchange Commission (SEC) is reportedly exploring a framework that would allow stocks to be traded as tokenized assets on blockchain networks, potentially bringing traditional securities closer to cryptocurrency-style infrastructure.
Related: NYSE parent invests $2 billion in Polymarket at a $9 billion valuation
Original article: “S&P Global Launches Digital Markets 50 Index Tracking Cryptocurrencies and Blockchain Stocks”
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