S&P Dow Jones Indices Introduces S&P Cryptocurrency Broad Digital Market Index

S&P Dow Jones Indices (S&P DJI), a leading index provider, announced that it has introduced S&P Cryptocurrency Broad Digital Market (BDM) Index, which provides a wide performance snapshot of the cryptocurrency market and includes more than 240 coins at launch.

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According to the company, the BDM Index is part of an expansion of S&P DJI’s recently launched series of digital asset benchmarks, the S&P Digital Market Indices. Together with the index, S&P DJI deployed the following ones: S&P Cryptocurrency BDM Ex-MegaCap Index, S&P Cryptocurrency BDM Ex-LargeCap Index, and S&P Cryptocurrency LargeCap Ex-MegaCap Index.

Additionally, the index provider has crypto benchmarks on its portfolio of offerings such as S&P Bitcoin Index, which measures the performance of Bitcoin (BTC); S&P Ethereum Index, which measures the performance of Ethereum (ETH); S&P Cryptocurrency MegaCap Index, which tracks the performance of Bitcoin and Ethereum digital assets.

The indices use pricing data from Lukka, a crypto software and data provider, to determine the eligibility universe and pricing of individual constituents. S&P DJI’s Index Committee administers the indices. S&P DJI first announced new cryptocurrency asset index capabilities with Lukka in December 2020.

Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices commented:”The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap. We’re excited to bring this significant level of additional transparency to the cryptocurrency market.”