S&P Launches New Crypto Index Combining Tokens And Stocks

The company stated that only stocks with a market value of $100 million or more and cryptocurrencies with a value of $300 million or higher qualify for inclusion in the index.

S&P Dow Jones Indices reportedly announced on Tuesday the S&P Digital Markets 50, a new index that combines 15 major cryptocurrencies with 35 stocks tied to the cryptocurrency sector. 

According to Barron’s report, the index is being launched in partnership with blockchain firm Dinari. S&P Dow Indices, the same group behind the S&P 500 and the Dow Jones Industrial Average, has created multi-asset class indices before, but this is the first to blend traditional equities and cryptocurrencies.

The company stated that stocks eligible for the index must have a market capitalization of at least $100 million, while cryptocurrencies must have a market capitalization of at least $300 million. No single asset will make up more than 5% of the index, which will follow the same quarterly rebalancing and governance as S&P’s other benchmarks. It added that eligible stocks would include companies operating in the cryptocurrency sector, blockchain technology, and other related areas.

Cameron Drinkwater, Chief Product Officer at S&P Dow Jones Indices, said the new index provides investors with a rules-based way to track the growing digital asset market. “Cryptocurrencies and the broader digital asset industry have moved from the margins into a more established role in global markets,” he said.

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