S&P Dow Jones Indices, a joint venture between S&P Global, the CME Group, and News Corp will be launching cryptocurrency indexes in 2021 with Lukka, a New York City-based crypto-asset software and data company.

In a press release, S&P DJI stated that :

“As the market for cryptocurrency assets has evolved in recent years, investor interest in benchmarking and index-based solutions based on crypto and blockchain assets has grown and reinforced the need for reliable pricing data.”

The company is going to tap various data services from Lukka including the Lukka Reference Data and Lukka Prime, the world’s first Fair Market Value-focused pricing methodology for crypto assets.

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.”

Robert Materazzi, CEO of Lukka stressed that the collaboration with S&P DJI will bridge the gap between the crypto asset ecosystem and traditional financial services. He further stated that :

“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.”

There will be 550 coins including BTC (bitcoin) that will appear in the new indexes starting next year. Bitcoin has already recovered from its last dip after it plunged to $16,000 last week. Currently, it is now trading at $19,000 and above. We have been seeing a lot of bitcoin action in the crypto market in the past few days. With the current move by  S&P Dow Jones Indices, we will be seeing more action next year, and this time it’s going to include Wall Street