Crypto News | Bitcoin, Ethereum Join Wall Street As S&P Dow Jones Launches Crypto Indexes
World’s leading index provider S&P Dow Jones Indices has brought the two largest and most prominent cryptocurrencies--Bitcoin and Ethereum--to Wall Street with the launch of three new cryptocurrency indexes around them.
At
launch, the S&P Digital Market Indices will include S&P Bitcoin
Index, S&P Ethereum Index and S&P Cryptocurrency MegaCap Index.
These indices will measure the performance of Bitcoin, Ethereum, and a
market cap weighting of Bitcoin and Ethereum, respectively.
S&P Dow Jones Indices
The list will further expand to include additional coins and broader-based indices such as large cap and broad market benchmarks later this year, the division of financial data provider S&P Global said.
Bitcoin, the most popular cryptocurrency, has seen a massive rally in prices after recording a big influx of investors from large-scale institutions and a growing number of vendors accepting bitcoin as a form of payment. Late last year, Paypal announced that customers can buy, hold and sell bitcoin directly from their PayPal accounts and earlier in March, Elon Musk tweeted that people can purchase a Tesla with bitcoin.
Bitcoin prices recovered from a five-day slump a fortnight ago that saw the cryptocurrency tumble below $50,000 for the first time in a month. But the cryptocurrency, which was trading at about $31,000 by the end of January, did soar to an all-time high of over $64,870 in mid-April, and is currently trading at $55,740.
