In the latest major move by traditional finance to incorporate crypto coins, 550 digital coins will appear in the new indices from next year.

S&P Dow Jones Indices, a joint venture between S&P Global, CME Group and News Corp, confirmed that it will release cryptomoney indices in 2021.

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In a press release on Thursday, S&P DJI described Bitcoin (BTC) and the altcoins as an „emerging asset class“.

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The company will partner with Lukka, a U.S. blockchain data provider, to launch the indices, which will cover 550 reported crypto currencies.

„With digital assets such as cryptomoney becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarking,“ said Peter Roffman, global head of innovation and strategy at S&P DJI, in the press release.

„We are excited to work with Lukka, who has been at the forefront of digital asset data services, to promote greater transparency in this emerging sector“.
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The move marks Wall Street’s latest commitment to adopt Bitcoin and other digital currencies, underlining the interest of the institutional sphere.

„Our collaboration with S&P DJI is another milestone that bridges the gap between the cryptoactive ecosystem and traditional financial services,“ added Robert Materazzi, CEO of Lukka.

„In a rapidly maturing industry, it is critical to build to institutional standards when working with highly respected brands such as S&P DJI. Lukka is delighted to help drive continued innovation in collaboration with S&P DJI.
The release did not indicate which specific cryptom currencies will be covered or the methodology behind their selection if it is not based on market capitalisation.

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The move comes as Bitcoin sets new all-time highs on several exchanges and challenges resistance at $20,000.

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