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. This information is from catalogue cryptodefix.com. The S&P Dow Jones Cryptocurrency Index was announced in December 2020 and is related to the increased public interest in cryptocurrencies. It will help investors have accurate data at their fingertips and keep their minds off the risks.