MSCI is planning to join rival S&P Dow Jones Indices (SPDJI) in launching a family of crypto indices, according to chief executive Henry Fernandez.

According to a Reuters report, the index provider has been discussing with experts the best approach to take in this space is aiming to launch crypto indices.

Speaking at a Clubhouse event last week, Fernandez gave no further details about which digital assets the provider would focus on or the timeline for when they will be launched.

MSCI declined to comment.

With cryptocurrencies becoming increasingly mainstream, the major index providers have started looking at ways to gain a foothold in the space.

Last month, SPDJI unveiled its first three crypto indices which track the price of bitcoin, ethereum and the two combined and revealed plans to launch additional cryptos later this year.

The involvement of the world’s largest index providers is further testament to the maturity of the crypto market which has seen a dramatic increase in the number of custodians, market makers and institutional investors over the past 18 months.

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The crypto exchange-traded product (ETP) landscape, in particular, has developed rapidly with more established issuers such as WisdomTree and VanEck entering the market while State Street Global Advisors (SSGA) has revealed it is monitoring the space closely.

At ETF Stream’s ETF Ecosystem Unwrapped event in May, Matteo Andreetto, head of SPDR ETF business, EMEA, at SSGA, said: “We are looking at crypto and get more and more investors asking about the space.”