S&P Dow Jones Indices comes with a new crypto index that tracks more than 240 cryptocurrencies

S&P Dow Jones Indices LLC recently launched a series of digital asset benchmarks, introducing several new cryptocurrency indices.

According to S&P Dow Jones Indices, one of the most interesting of these is the S&P Cryptocurrency Broad Digital Market (BDM) Index, which, according to the official report, is providing a broad overview of the performance of up to 240 cryptocurrency markets.

New cryptocurrency indices also include:

• S&P Cryptocurrency LargeCap Index – a subset of the BDM that measures the performance of the constituents with the largest market capitalization.
• S&P Cryptocurrency BDM Ex-MegaCap Index – a subset of the BDM that excludes the constituents of the S&P Cryptocurrency MegaCap Index (Bitcoin and Ethereum).
• S&P Cryptocurrency BDM Ex-LargeCap Index – a subset of the BDM that excludes constituents of the S&P Cryptocurrency LargeCap Index.
• S&P Cryptocurrency LargeCap Ex-MegaCap Index – a subset of the BDM that measures the performance of the constituents of the S&P Cryptocurrency LargeCap Index, excluding the constituents of the S&P Cryptocurrency MegaCap Index.

For more than a century, our indices have offered insight into how the markets are performing. Now, with the introduction of the S&P Cryptocurrency Broad Digital Market Index, we're providing that answer to cryptocurrency investors, said Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices.

S&P Dow Jones Indices has so far offered 3 crypto indices, namely the S&P Bitcoin Index, Ethereum Index and Cryptocurrency MegaCap Index.

Following the launch of the latest indices, S&P Dow Jones Indices has a total of eight cryptocurrency indices in operation.