S&P Dow Jones indices launched new cryptocurrency indices, announced on Tuesday, further introduction of digital currencies, including bitcoin and ethereum, by bringing them to Wall Street trading floors.
The new indices, the S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, will measure the performance of their associated digital assets.
The list will be expanded to include additional coins later this year, according to a division of financial data provider S&P Global.
The company first announced the plan in December when it said it would cover over 550 of the world’s most traded coins and that its customers will be able to create customized indices and other cryptocurrency benchmarking tools.
“Traditional financial markets and digital assets are no longer mutually exclusive,” said Peter Roffman, head of innovation and strategy at S&P Dow Jones Indices.
The indices will use data from New York-based virtual currency company Lukka.
Bitcoin, the most popular cryptocurrency, has seen its price surge following support from well-known companies including Tesla (TSLA.O) and Bank of NY Mellon (BK.N). However, its price has reached an all-time high.
Ethereum, meanwhile, hit an all-time high on Monday after surging above $ 3,000 for the first time over the weekend.
Our Standards: Thomson Reuters Trust Principles.