S&P Dow Jones Bring Bitcoin to Wall Street By Launching Its Own Crypto Index Next Year in 2021

After a massive struggle with the regulators and the government agencies over the last decade, the world’s largest cryptocurrency Bitcoin (BTC) is finally making its way to the Wall Street.

On Thursday, December 3, the S&P Dow Jones Indices announced that it will be launching its own cryptocurrency index next year in 2021. To make this possible and get the real-time crypto data, S&P-DJI has partnered with New York-based software and data management company Lukka.

Using Lukka’s proprietary crypto asset pricing data, S&P DJI will offer customized indexing and benchmarking solutions. The latest decision from S&P-DJI comes as investors’ interest in benchmarking and index-based solutions for crypto and blockchain is growing.

Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices said: "With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks. We're excited to work with Lukka, who has been at the forefront of digital asset data services, to promote more transparency in this nascent sector.”

The announcement comes just at the time when cryptocurrencies have made major advancements over the last few months. Bitcoin is trading close to its all-time high of $19,800 while Ethereum (ETH), Ripple (XRP) has surged over 200% in 2020 so far.

The press release notes that the new S&P-DJI cryptocurrency index will make it easier for investors to access the emerging technology-driven asset class. This will also help them to reduce risks associated with speculative market.

Robert Materazzi, CEO of Lukka said: "Our collaboration with S&P DJI is yet another milestone that bridges the gap between the crypto asset ecosystem and traditional financial services. Customers with crypto data requirements will soon have access to the most trusted data in the industry underpinned by Lukka's institutional-quality standards, such as AICPA SOC Controls. In a rapidly maturing industry, it is paramount to build to institutional standards when working with highly respected brands, such as S&P DJI. Lukka is thrilled to help drive ongoing innovation in collaboration with S&P DJI.”

This is a major development for Bitcoin and the overall crypto market. This is the proof that cryptocurrencies have really entered mainstream adoption. Besides, it will add more fuel to cryptocurrency adoption by institutions in the coming months.