The S & P Dow Jones Indices, which provides price indexes in the global financial markets, has launched three types of indexes for crypto assets.
According to documents obtained by CoinDesk, the indexes launched by S & P Dow Jones are Bitcoin’s “SPBTC (ticker symbol)” and Ethereum’s “SPETH”, as well as the composite index of both crypto assets, “SPCMC”. The three indexes use data compiled by partner Lukka.
As North American financial institutions enter the crypto asset markets such as Bitcoin and Ethereum, the composition of price indexes may increase price transparency and make the market more active. Bloomberg, a financial data information company, and Galaxy, a crypto asset management company, have already started to index the price of crypto assets.
S & P uses Lucca’s method called “Fair Market Value Pricing” to calculate the units of the three crypto asset indexes in points instead of US dollars.
The Bitcoin index calculated by S & P on May 3 is 7611 and Ether is 24811. The combined index of Bitcoin and Ether called “MegaCap” was 5617.
｜ Editing: Shigeru Sato
｜ Top image: US stock index (Shutterstock)
｜ Original: S & P Goes Live With Bitcoin, Ethereum Crypto Indexes