S&P Launches Index That Tracks 240 cryptos

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S&P Dow Jones Indices has just rolled out a new crypto index tracking more than 240 cryptocurrencies.

The company, which has recently launched some indices based on major cryptocurrencies, has unveiled the S&P Cryptocurrency Broad Digital Market Index, aka BDM, which tracks over 240 cryptocurrencies.

However, it is worth noting that S&P has also rolled out some other indices based on cryptocurrencies: S&P Cryptocurrency LargeCap Index, S&P Cryptocurrency BDM Ex-MegaCap Index, S&P Cryptocurrency BDM Ex-LargeCap Index and S&P Cryptocurrency LargeCap Ex-MegaCap Index.

All the new products unveiled by the company use data from crypto data provider Lukka.

Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices, said:

“For more than a century, our indices have offered insight into how the markets are performing. Now, with the introduction of the S&P Cryptocurrency Broad Digital Market Index, we’re providing that answer to cryptocurrency investors.”