New Listing

SPDJI launches five crypto basket indices

The broadest of the new indices offers exposure to more than 250 coins

Jamie Gordon

a close-up of a pile of coins

S&P Dow Jones Indices (SPDJI) has expanded its digital assets range with the release of five cryptocurrency basket indices.

The flagship of the new range, the S&P Cryptocurrency Broad Digital Market index, provides exposure to more than 250 coins.

Prior to the recent launches, the firm already offered the S&P Bitcoin index, S&P Ethereum index and S&P Cryptocurrency MegaCap index.

The new arrivals provide different size exposures and exclusions, allowing investors to target large parts of the digital asset space with the option of removing mega cap currencies such as bitcoin and ethereum.

The new indices are:

  • S&P Cryptocurrency Broad Digital Market (BDM) index

  • S&P Cryptocurrency LargeCap index

  • S&P Cryptocurrency BDM Ex-MegaCap index

  • S&P Cryptocurrency BDM Ex-LargeCap index

  • S&P Cryptocurrency LargeCap Ex-MegaCap index

The five benchmarks use data from Lukka to determine their eligibility universe and pricing of individual constituents.

Peter Roffman, global head of innovation and strategy at SPDJI, said: “The expansion of our Digital Market indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap.”

The SPDJI benchmarks arrive at an eventful time for indexing in the crypto industry, with CoinShares agreeing to acquire Elwood’s indexing arm and partner with Invesco on its Invesco Elwood Global Blockchain UCITS ETF (BCHN) in the first week of July.

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