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5/4, 3:56 PM (Source: TeleTrader)
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S&P Dow Jones launches three crypto indices

S&P Dow Jones Indices, the leading global index provider, officially launched on Tuesday a series of cryptocurrency indices designed to measure the performance of a selection of digital assets and bring transparency to the growing cryptocurrency market.

So far, the indexes are tied to the two largest cryptocurrencies - Bitcoin and Ethereum. S&P Bitcoin Index will measure the performance of Bitcoin, S&P Ethereum Index will evaluate Ether, while the S&P Cryptocurrency MegaCap Index will weigh the value of both.

"The indices use pricing data from Lukka, a crypto software and data provider, to determine the eligibility universe and pricing of individual constituents," the official statement said. It is also expected that the number of coins will be expanded and the indices will be broader and with a larger cap.

Breaking the News / LH