Tuesday 4 May 2021 2:43 pm

S&P Dow Jones Indices launches crypto indexes

The S&P Dow Jones Indices, a division of financial data provider S&P Global, today said it had launched cryptocurrency indexes.

The S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index will measure the performance of bitcoin, Ethereum and digital assets.

The move to measure each space was originally announced in December last year.

“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.

New York-based virtual currency firm Lukka will provide data to the indexes, the company said.

S&P added that later this year, the new index series will expand to additional coins.

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The announcement came on a day where fine arts firm Sotheby’s said it would accept bitcoin and Ethereum as payment for Banksy’s iconic artwork “Love is in the Air.”

This was a first for a physical art auction and the latest sign of growing mainstream acceptance of cryptocurrencies.

Bitcoin, the most popular cryptocurrency, has seen a rally in prices after backing from high-profile companies including Tesla.

Meanwhile, Ethereum touched a record high yesterday after rising above $3k for the first time over the weekend.

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