S&P Dow Jones to List Crypto Indexes From 2021
From 2021, S&P Dow Jones Indices (S&P DJI), a joint venture between S&P, CME, and News Corp, in partnership with Lukka will introduce cryptocurrency indices featuring 550 coins. Lukka is a US-based blockchain data provider. It is a move that officially legitimizes crypto and high cap digital assets could benefit. S&P DJI classifies Bitcoin and altcoins wholly as an “emerging asset class.”
The announcement is yet another hint of how keen traditional players are willing to link their ecosystem with the crypto world. In recent times, Wall Street executives have been declaring their interests in cryptocurrencies and Bitcoin. Some are now seeking permission from the US SEC to invest part of their liquid portfolios in BTC. Public companies own over $4.5 billion of cryptocurrencies, most of which are controlled by MicroStrategy.
Impact on BTC and Crypto Prices:
Bullish. Robert Materazzi, CEO of Lukka, said crypto is quickly maturing, and developing institutional standards is paramount. With a crypto index from a joint effort by Wall Street players, it may be the beginning of a journey that may force regulators to approve complex crypto derivatives instruments.
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