• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

News 2 Business

Your Leading Business News Source

NEWS 2 BUSINESS
Your Leading Business News Source

  • Home
  • BUSINESS
  • HEALTH
  • MONEY
  • POLITICS
  • REAL ESTATE
  • US
  • About/Contact

Here’s how bitcoin is coming to Wall Street

May 15, 2021 by Staff Reporter

Traders will soon be able to track the performance of the world’s two biggest cryptocurrencies on Wall Street, as the S&P Dow Jones Indices announced several crypto indexes.

Two indexes are being launched to track the individual performance of bitcoin and ether, while a third, the S&P Cryptocurrency MegaCap Index, will measure the performance of bitcoin and ether combined.

Later this year the S&P Digital Market Indices series will be expanded to include additional coins and broader-based indices such as large cap and broad market benchmarks, which could mean dogecoin is on its way to the street.

READ  Dogecoin’s chances of hitting $5 in 2021 near 20% as price hits record high

The meme coin is currently the fourth largest cryptocurrency by market capitalisation, after a social media push bounced its price more than 13,590% this year.

The indexes will use pricing data from crypto software provider Lukka.

S&P DJI said access to cryptocurrencies for investors is “more essential than ever” to meet demand. It added that the launch of such indexes may aid Wall Street in “potentially mitigating some of the common risks associated with this traditionally speculative market”.

READ  Billionaires and blockchain – What’s behind the rise of Ethereum?

“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P DJI.

“As cryptocurrency becomes more mainstream, investors now have access to reliable and transparent benchmarks backed by institutional quality pricing data. We look forward to further expanding our new family of digital market indices and bringing much needed transparency to this exciting market.”

To contact the author of this story with feedback or news, email Emily Nicolle

Originally Appeared On: https://www.fnlondon.com/articles/heres-how-bitcoin-is-coming-to-wall-street-20210505

Filed Under: BUSINESS, MONEY

Primary Sidebar

Recent Posts

  • Global dismay as supreme court ruling leaves Biden’s climate policy in tatters | Climate crisis
  • Tech News | Oppo A97 5G Revealed with Specs and Images
  • Health News Roundup: U.S. FDA working to allow overseas infant formula beyond shortage; World hunger rising as U.N. agencies warn of “looming catastrophe” and more
  • Reindeer inflatable Bounce house from About to Bounce rentals in New Orleans
  • Impact of Affiliation Mixed for Rural U.S. Hospitals – Consumer Health News

Recent Comments

    Privacy Policy | Terms and Conditions | About/ Contact
    As an Amazon Associate I earn from qualifying purchases.

    Copyright © 2022 · NEWS 2 BUSINESS . Log in