Bitcoin and other cryptocurrencies will soon enter the traditional financial market. S&P Dow Jones Indices, a division of financial data provider S&P Global Inc. will introduce crypto indices in 2021.
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Bitcoin and other cryptocurrencies will get indices
On December 3rd, according to Reuters, the two companies S&P and Lukka, which is responsible for the data provision of the various cryptocurrencies, announced the good news.
The products of the mark S&P DJI will take up the data for more than 550 of the most traded cryptocurrencies with the help of Lukka.
S&P clients will be able to work with the index provider to create customized indices and other benchmarking tools on Bitcoin and other cryptocurrencies, S&P and Lukka said in a joint statement.
BTC and Co. indices to help traditional investors
S&P and Lukka hope that more reliable price data will make it easier for investors to access the new asset class and reduce some of the risks of the highly volatile and speculative market.
”As digital assets such as crypto currencies become a rapidly evolving asset class, the time is ripe for independent, reliable and user-friendly benchmarks.” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
The move by one of the world’s best-known index providers could help cryptocurrencies become an established asset class.
With this move, Bitcoin and Co. reach traditional investors who are strongly index-oriented. BTC will thus be further legitimized and gain more and more trust.
The potential behind Bitcoin is enormous
According to CoinMarket, ”the S&P DJI listing can also open the gates for Bitcoin Exchange Traded Fund or Bitcoin ETF which has been rejected up until now for a reason that the market is not big enough or wide enough for ETFs. The news about the listing is in fact even more bullish than PayPal allowing crypto trading through its platform.”
Slowly apparently also large investors understand the large potential behind Bitcoin. One can ignore it theoretically, only it could happen that one misses one of the most important developments in this century.
With PayPal, Grayscale and various institutional investors on the side, Bitcoin has an exciting year before itself. In addition, more and more listed companies are investing in BTC.
The supply of Bitcoin is limited, the demand is basically not. The crypto sector is still in its infancy and slowly the potential of BTC is becoming visible.
For years now, there has been news that Bitcoin will play a central role in the future. Or at least has the potential to do so. Those who still don’t recognize the signs could regret it at a later date.
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First published in CRYPTO MONDAY, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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