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S&P Dow Jones Will Launch Cryptocurrency Index

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Cryptocurrency Index

S&P Dow Jones Will Launch Cryptocurrency Index

Provider of the leading US stock indices – S&P Dow Jones Indices will present a new product based on digital assets. It will be launched in 2021.

The S&P Dow Jones Indices company, which is behind the leading US stock indices – the S&P 500 and the Dow Jones, will present an index for cryptocurrencies in 2021, as announced in an official press release. The product will be developed in partnership with New York-based Lukka.

What is the reason for launching the Cryptocurrency Index?

Cryptocurrency Index

The reason for the launch of the cryptocurrency index in the company was the growth of interest in them from investors. Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices, said the index will simplify the digital asset management process and protect investors from speculative risks inherent in the market.

S&P Dow Jones is not the first company which launches a cryptocurrency index. In 2019, a similar product was presented by the world’s second-largest stock exchange – Nasdaq. It added an index based on 100 crypto assets called CIX100.

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