The index provider is expanding its Digital Market Indices series, with pricing data provided by Lukka

Leading index provider S&P Dow Jones Indices (S&P DJI) announced yesterday that it was expanding its Digital Market Indices, a series of indices for cryptocurrencies.

Known for important traditional financial indicators such as the Dow Jones Industrial Average and the S&P 500, S&P DJI is the largest provider of index-based data, concepts and research, while its indices are used more than any others for asset investment.

The new indices will add to the digital asset benchmarks which were recently launched as the S&P Digital Market Indices. The existing benchmarks are the S&P Bitcoin Index, S&P Ethereum Index and S&P Cryptocurrency MegaCap Index, which tracks the performance of both Bitcoin and Ethereum.

Yesterday’s additions included the S&P Broad Digital Market (BDM) Index, which reflects a broad crypto market by tracking the performance of exchange-listed digital assets that meet the minimum requirements on liquidity and market capitalisation.

Also launched yesterday were four subsets of the BDM, namely the S&P Cryptocurrency LargeCap Index which measures the performance of the cryptos with the largest market caps, the S&P Cryptocurrency BDM Ex-LargeCap Index which excludes the coins in the LargeCap Index, the S&P Cryptocurrency BDM Ex-MegaCap Index which excludes Bitcoin and Ethereum, and the S&P Cryptocurrency LargeCap Ex-MegaCap Index which consists of coins on the LargeCap Index except Bitcoin and Ethereum.

Blockchain-native technology company Lukka is providing the pricing data for the crypto indices by leveraging its aggregated data services such as Lukka Prime, which is the first crypto asset pricing methodology focused on Fair Market Value.

The news reflects the growth of the crypto market and the growing need for transparent benchmarking. Crypto assets should become more accessible and easier to evaluate for investors with the launch of the Digital Market Indices.

S&P DJI’s Global Head of Innovation and Strategy, Peter Roffman, commented, “For more than a century, our indices have offered insight into how the markets are performing. Now, with the introduction of the S&P Cryptocurrency Broad Digital Market Index, we’re providing that answer to cryptocurrency investors. The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap. We’re excited to bring this significant level of additional transparency to the cryptocurrency market”.

This post was originally published on Coinlist.