S&P Dow Jones Indices – the top-tier index providers of numerous major equity benchmarks in the world – has reportedly rolled out a new crypto index, devoted to tracking how the broader digital asset market is performing. 

Specifically, The S&P Cryptocurrency Broad Digital Market Index, with a BDM label, will reportedly handle the tracking of over 240 virtual assets upon its release, and is a representative for the expansion of its freshly rolled out crypto benchmarks.

Apart from BDM, S&P Dow Jones Indices further made four additional crypto-centric indexes available on July 13th, with each will be tracking different components of the overall digital market benchmark.

The new indexes are as follows: 

• S&P Cryptocurrency LargeCap Index
• S&P Cryptocurrency BDM Ex-MegaCap Index
• S&P Cryptocurrency BDM Ex-LargeCap Index
• S&P Cryptocurrency LargeCap Ex-MegaCap Index

All the indexes are reportedly dependent on pricing data generated by Lukka – an entity specialising in providing crypto-focussed information – to discover the composition of each respective benchmark.

“The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap” Peter Roffman, the global head of innovation and strategy at S&P Dow Jones Indices, reportedly remarked. 

S&P Dow Jones Indices initially shared details of its plan for tracking crypto prices in December last year, and later rolled out the debut version of Indexes tracking the price of Bitcoin and Ether in May 2021.