S&P Dow Jones Indices (S&P DJI), a financial data provider, is working on a cryptocurrency indexes in a collaboration with Lukka, a New York City-based crypto asset software and data company.
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According to an official press release, S&P DJI will provide branded and customized indexing and benchmarking solutions provided by Lukka's crypto asset pricing feed. It is anticipated that the new crypto index will make simplify for investors to access the crypto market while potentially mitigating some common risks associated with this traditionally speculative market.
Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices, says as cryptos becoming a rapidly emerging asset class, the time "is right for independent, reliable and user-friendly benchmarks."
"We are excited to work with Lukka, who has been at the forefront of digital asset data services, to promote more transparency in this nascent sector," he added.
The index, dubbed CoinShares Gold and Cryptoassets Index (CGCI), is available to users on the Bloomberg Terminal and has been created to provide investors with access to cryptos at the same time it protects them against volatility risks. Gold represents 68.25% of the index, while cryptos comprise the remaining 31.75%, equally weighted.
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