The S&P Dow Jones Indices – a joint venture between S&P Global, CME Group and News Corp – have confirmed that they will launch cryptocurrency indices in 2021.
In a press release on Thursday, S&P DJI described bitcoin (BTC) and altcoins as “a new asset class.”
Bitcoin and Altcoins hit Wall Street funding
The company will partner with Lukka, a US provider of blockchain data, to release indices that will cover 550 registered cryptocurrencies.
“As digital assets such as cryptocurrencies are rapidly emerging as a new asset class, it’s time for independent, reliable and user – friendly standards,” said Peter Roffman, global head of innovation and strategy at DJI S&P, in a press release. .
“We are pleased to work with Lukka, which has always been at the forefront of digital data services, to promote greater transparency in this new sector.”
The move marks Wall Street’s latest commitment to using bitcoin and other digital currencies, and highlights institutional interest.
“Our partnership with S&P DJI is another milestone that bridges the gap between the cryptoass ecosystem and traditional financial services,” added Robert Materazzi, CEO of Lukka.
“In a fast-paced industry, it is important to build business standards when working with established brands such as S&P DJI. Lukka is proud to promote continuous innovation in partnership with S&P DJI. ”
The publication did not mention the specific cryptocurrency to be covered, or the method of selecting it if it was not based on market value.
This move happens when Bitcoin reaches full-time highs on various exchanges and overcomes resistance of $ 20,000.