S&P Dow Jones to launch cryptocurrency indexes with data provider Lukka in 2021

S&P Dow Jones Indices, the world's leading index provider and division of S&P Global, said in a joint statement on Thursday it will launch a customizable cryptocurrency indexing service with crypto data provider Lukka starting in 2021.

S&P Dow Jones to launch cryptocurrency indexes with data provider Lukka in 2021

S&P Dow Jones Indices, the world's largest index provider and division of S&P Global, said in a joint statement on Thursday that it will launch a customizable cryptocurrency indexing service with crypto data provider Lukka starting in 2021. The largest existing competitor for Wall Street to choose from to track the crypto market is Bloomberg Galaxy Crypto Index, which tracks bitcoin, ethereum, monero, XRP, zcash, EOS, litecoin and dash, has provided quotes on highly liquid cryptos since 2018. Nasdaq has listed multiple crypto indices in the past few years. Founded in 2014, Lukka is a New York City-based crypto asset software and data company. "S&P and Lukka hope more reliable pricing data will make it easier for investors to access the new asset class, and reduce some of the risks of the very volatile and speculative market," they said in the post. “With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices. The move by one of the world’s most well-known index providers, owners of the S&P 500, could help cryptocurrencies become more mainstream adopted.