S&P Dow Jones Indices, a division of US financial data provider S&P Global, has just launched indexes based on Bitcoin, Ether and a basket of both cryptos.
The indexes will use data from partner firm Lukka, whose headquarters are in New York. The companies agreed to cooperate in December last year.
The Bitcoin index has been assigned the ticker SPBTC, while the Ether-based index carries the ticker SPETH. The index that tracks the prices of the two cryptocurrencies is called the S&P Crypto Mega Cap Index (SPCMC).
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The indexes are calculated in points, not US dollars. According to S&P spokesman Raymond McConville, rather than actual value, they reflect price dynamics.
The data is calculated in business days and is available on a subscription basis to customers of the service. Rebalancing is performed every 3 months.
Bloomberg and Galaxy have previously launched similar tools.