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S&P DJI on the move: crypto coins will also own the S&P 500

Major financial data provider S & P Dow Jones Indices will launch two index products for cryptocurrencies in collaboration with crypto data company Lukka.

Cryptocurrencies are on the radar of corporate firms than ever before, and the products that will be created will be used by Wall Street companies for cryptocurrency price data.

“With digital assets such as cryptocurrencies becoming a rapidly evolving asset class, the time has come for independent, reliable and user-friendly indicators,” said Peter Roffman, head of global innovation and strategy at S&P Dow Jones Indices. he made statements.

“Increased investor interest has increased the need for reliable price data, ” said a press release from S&P Dow Jones indicators, a joint venture of S&P Global, CME Group and News Corp.”I was told.

S & P DJI will benefit from Lukka’s services such as Lukka Reference and Lukka Prime, which provide price data for cryptocurrencies based on information from various exchanges, over-the-counter trading desks and wallets. The initiative will launch a customizable crypto index product in the near future. In 2021, it will offer an index similar to the self-named S&P500.

In September, Nasdaq, along with Brazilian fund manager Hashdex, formed the basis of the Nasdaq crypto exchange-traded fund, which is listed on the Bermuda Exchange. Bloomberg launched Galaxy Bloomberg in 2018 with crypto crypto investment company Galaxy Digital, an index used as an indicator of the largest cryptocurrencies.

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