BREAKING NEWS
This content is not available in your region

S&P Dow Jones brings bitcoin, ethereum to Wall St with cryptocurrency indexes

Access to the comments Comments
S&P Dow Jones Indices launches cryptocurrency indexes
S&P Dow Jones Indices launches cryptocurrency indexes   -   Copyright  (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html
Text size Aa Aa

(Reuters) -The S&P Dow Jones Indices launched new cryptocurrency indexes, it said on Tuesday, further mainstreaming digital currencies including bitcoin and ethereum by bringing them to the trading floors of Wall Street.

The new indexes, S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, will measure the performance of digital assets tied to them.

The list will expand to include additional coins later this year, the division of financial data provider S&P Global said.

The company first announced the plan in December when it said it would cover more than 550 of top-traded coins and that its clients will be able to create customized indices and other benchmarking tools on cryptocurrencies.

“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.

The indexes will use data from New York-based virtual currency company Lukka.

Bitcoin, the most popular cryptocurrency, has seen a wild rally in prices after backing from high-profile companies including Tesla and Bank of NY Mellon. Its price, however, has come off its record highs.

Ethereum, meanwhile, touched a record high on Monday after rising above $3,000 for the first time over the weekend.

(Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber and Arun Koyyur)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.