S&P Profits From Bitcoin Rise – Financial data provider S&P Dow Jones Indices announced this week the launch of a customizable index creation service . The US company’s products will be able to use Lukka’s data on more than 550 digital currencies.
S&P embarks on the crypto adventure
Users of S & P’s services will be able to create their own indices and market analysis tools from Lukka’s data. The growing interest of institutional investors in Bitcoin Supersplit has heightened the need for reliable and standardized data on the price of these assets.
“With digital assets being a booming asset class, now is the time to put in place independent, reliable and accessible benchmarks. “
Peter Roffman, Head of Innovation and Strategy at S&P
In addition, S&P plans to acquire IHS Markit for $ 44 billion . If the deal passes the competition authorities, S&P would become Wall Street’s undisputed provider of financial data.
This is not the first time that an institution has offered a crypto-asset index for Wall Street. Bloomberg has offered the Galaxy Crypto Index since 2018, but this news comes in a particular context.
Traditional financial players rushed into the crypto-asset market in 2020, largely thanks to the rise of Bitcoin. We have seen a cascade of announcements from institutional investors positioning themselves on the king of cryptos. After Grayscale and Fidelity Investments, it is now the turn of S&P Dow Jones to join the game.