S & amp; P Dow Jones Indices will launch two cryptocurrency indices in 2021 Market index provider S & amp; P Dow Jones Indices will launch two new cryptocurrency-based products in 2021, Reuters reported.

S&P Dow Jones Indices To Launch Two Cryptocurrency Indices In 2021

Market Index Provider S&P Dow Jones Indices will launch two new cryptocurrency-based products in 2021, Reuters reports.

The indices will use data from New York-based virtual currency company Lukka and will include over 550 of the world's most sought-after coins.. Customers will be able to use them to run their own indexes and other reference mechanisms, S reported.&P and Lukka in a joint press release. The companies hope that having a reliable source of price data will make it easier for investors to access the new asset class and mitigate “some of the risks of this highly volatile and speculative market,” they said..

“Digital assets such as cryptocurrencies are becoming a fast-growing asset class, so it's time for independent, reliable and user-centric reference mechanisms,” said the head of innovation and strategy at S&P Dow Jones Indices Peter Roffman.

S&P Dow Jones Indices was founded in 2012 as a result of the collaboration of S&P Global, CME Group and News Corp and serves the major Wall Street stock market indices, some of which have been around since the 19th century.

Previously, the Nasdaq exchange launched its own Nasdaq Crypto Index. Also, the cryptocurrency index Galaxy Bloomberg Crypto Index is available from the information giant Bloomberg LP.

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