S&P Dow Jones Indices launched a new index for cryptocurrencies

S&P Dow Jones has launched a new index that will track the positions of more than 240 available cryptocurrencies.

Leading provider of exchange-traded indices, S&P Dow Jones announced the launch of a new index to track cryptocurrencies. The index will be called the S&P Cryptocurrency Broad Digital Market (BDM) and will include several indices:

S&P Cryptocurrency LargeCap Index is an index to track the capitalization of large cryptocurrencies.
S&P Cryptocurrency BDM Ex-MegaCap Index is an index that will feature major cryptocurrencies, excluding Bitcoin and Ethereum.
S&P Cryptocurrency BDM Ex-LargeCap Index is an index of cryptocurrencies, excluding the “LargeCap Index” data.
S&P Cryptocurrency LargeCap Ex-MegaCap Index is an index tracking Cryptocurrency LargeCap data, excluding S&P Cryptocurrency MegaCap Index components.

The BDM Index will be based on Lukka data. The S&P Dow Jones Cryptocurrency Index was announced in December 2020 and is related to the increased public interest in cryptocurrencies. This is a text from company cryptodefix. It will help investors have accurate data at their fingertips and keep their minds off the risks.