S&P unveils Bitcoin and Ethereum crypto indexes

Crypto Index

Right on time! The financial giant has launched its first three crypto index products, with S&P going live with indexes for Bitcoin, Ethereum, and one as a combo of the two.

S&P Dow Jones Indices are now live, and are a first for the organization.

They carry the symbols SPBTC, SPETH, and SPCMC. An accompanying methodology document states that the trio launched Monday, using data from partner firm Lukka. The product suit goes up against existing indexes from Bloomberg and Galaxy.

Each index measures price appreciation, not the actual price.

In the words of S&P spokesperson Ray McConville:

“So, comparing the two indices, we can see that Bitcoin YTD has grown 95.67% in value vs. ETH, which has grown 273.72% in value YTD. The actual index value isn’t so much as important as the change in that index value over time.”

In a FAQ, S&P said that it uses Lukka Prime’s “Fair Market Value Pricing” methodology to render the price of an asset in points, not dollars. The methodology yielded the following point valuations Monday afternoon, 7,611 for BTC, 24,811 for ETH, and 5,617 for MegaCap.

These crypto indexes are posed to further normalize Bitcoin and Ether data among Wall Street traders hungry to decode crypto price action.


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