LONDON (Reuters) – S&P Dow Jones Indices, a division of financial data provider S&P Global Inc, said on Thursday that it will launch cryptocurrency indices in 2021, making it the latest major finance company to enter the nascent asset class.
The S&P DJI-branded products will use data from New York-based virtual currency company Lukka on more than 550 of the top traded coins, the companies said. S&P’s clients will be able to work with the index provider to create customized indices and other benchmarking tools on cryptocurrencies, S&P and Lukka said in a joint statement. S&P and Lukka hope more reliable pricing data will make it easier for investors to access the new asset class, and reduce some of the risks of the very volatile and speculative market, they said.