S&P Dow Jones Indices recently confirmed that it will debut cryptocurrency indices in 2021. In a press release issued on Thursday, the company described Bitcoin (BTC) and other altcoins as an "emerging asset class".
A market index is a hypothetical portfolio of investment holdings that represents a specific segment of the financial market. The calculation of the index value comes from the prices of the underlying shares.
"With digital assets like cryptocurrencies quickly becoming an emerging asset class, this is the right time for independent, reliable and easy to use benchmarks," says Peter Roffman, global head of innovation and strategy at S&P DJI in the press release.
The statement does not specify which specific cryptocurrencies will be covered or the methodology behind their selection, but is expected to be based on the market capitalization value of the assets.
For many personalities in the cryptocurrency industry, the change comes as no surprise, and occurs at a time when Bitcoin is consolidating itself as a strong and solid global currency, presenting solid post-pandemic results and setting new historical records, ready to overcome the resistance of the $ 20,000. The perfect storm to satisfy the interest of the institutional sphere.