S&P Dow Jones Indices to Launch Crypto Indexes in 2021
Financial data provider S&P Dow Jones Indices is launching a crypto asset index in 2021.
The crypto mining and data firm’s new index product seeks to capture public-market sentiment on the firms pumping out new coins.
The index company's Broad Digital Market tracker dives deep – very deep – into the digital asset universe, CoinDesk found.
Tracking the newly launched Bloomberg Galaxy DeFi Index, the fund is seeded by New Zealand’s NZ Funds.
The new fund joins a growing number of offerings seeking to help investors easily bet on growth in decentralized finance (DeFi).
It’s the first major expansion of S&P’s crypto benchmarking tools since entering the market in May.