The post Crypto News: XRP Joins Leading Cryptocurrencies in S&P’s New Crypto-Stock Index appeared first on Coinpedia Fintech News
The American financial analysis company S&P Global has partnered with DinariGlobal to launch the S&P Digital Markets 50 Index. This is S&P’s first hybrid index combining crypto and traditional stocks, designed to track both companies and digital assets in the cryptocurrency ecosystem.
Launch of S&P Digital Markets 50 Index
The index includes 35 publicly traded firms and 15 leading cryptocurrencies. So far, only 10 of the 15 cryptocurrencies have been revealed, while S&P has not yet disclosed the names of the included companies.
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
Binance Coin (BNB)
Solana (SOL)
Tron (TRX)
Cardano (ADA)
Chainlink (LINK)
Avalanche (AVAX)
HYPE (HYPE)
The requirement for inclusion in the index is to have a minimum $300 million market cap for cryptocurrencies and $100 million market cap for stocks. S&P Global said that the official launch will take place in a few weeks.
Why is the S&P Launching a Crypto Index?
In a blog post, S&P revealed that the index comes as a demand for broader and more diversified exposure to decentralized financial markets. This index offers market participants consistent, rule-based tools to evaluate and gain exposure.
Cameron Drinkwater, Chief Product & Operations Officer at S&P Dow Jones Indices, said, “As with traditional financial markets, independent benchmarks can help bring transparency and accessibility to the digital asset ecosystem. With this latest expansion, S&P DJI reinforces its role as a trusted provider of benchmarks across traditional and alternative asset classes – offering market participants clarity and confidence as new markets like cryptocurrency emerge.”
Meanwhile, CEO of Dinari, Gabe Otte, revealed Dinari’s goal for the collaboration. He said Dinari’s mission is to set a standard for tokenized equities to safely enhance traditional finance. Now for the first time, investors will be able to access US equities and digital assets together in a single benchmark.