S&P launches 15-asset crypto index

• S&P launched a new crypto index with 15 digital assets and 35 crypto-related stocks.
• The index does not include Bitcoin (CRYPTO:BTC) or Ethereum (CRYPTO:ETH).
• S&P said the benchmark gives investors a broader view of the crypto market.

S&P Dow Jones Indices launched the S&P Pantera Digital Asset Index with 15 cryptocurrencies and 35 crypto-related stocks, excluding Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH).

The new index gives investors exposure to other digital assets because Bitcoin and Ethereum already have dedicated S&P indices.

“The goal is to highlight digital assets with strong fundamentals that are actually being used,” said S&P Dow Jones Indices in its announcement.

S&P said the index also includes crypto-related companies that meet its selection rules.

The launch expands S&P's digital asset products, and there was no immediate share price reaction because the announcement relates to an index.

S&P has offered cryptocurrency indices since 2021, including separate benchmarks for Bitcoin and Ethereum.

The company said the new index gives investors another way to track the digital asset market beyond its two largest cryptocurrencies.

At the time of reporting, Bitcoin price was $66,334.58.