S&P Dow Jones Indices will launch cryptocurrency indices in 2021

Wall Street's largest financial data provider, S&P Dow Jones Indices, said it will launch a custom cryptocurrency indexing service in 2021 with blockchain service Lukka.

The company's products will be formed on the basis of 550 digital currencies should become the main source of data on cryptocurrency quotes for institutional investors.

According to Peter Roffman, head of global innovation and strategy at S&P DJI, the company noticed the interest of major players in the new asset class, so it decided to introducecontribute to the development of this market by making it more transparent.

Although Bloomberg and Nasdaq brought crypto indices to Wall Street back in 2018, the ratings conglomerate intends to use best practices to provide competitive products.

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