S&P Dow Jones Indices Launches Cryptocurrency Index Series
S&P Dow Jones Indices launched a series of digital asset benchmarks, the S&P Digital Market Indices, that will measure the performance of digital assets listed on recognized open cryptocurrency exchanges. At launch, the index series will cover Bitcoin and Ethereum, and there will be Cryptocurrency MegaCap Index that measures the market cap-weighted performance of Bitcoin and Ethereum. Later this year other coins will be added. The indices use pricing data from Lukka, a crypto software and data provider, to determine the eligibility universe and pricing of individual constituents.
The Chicago Mercantile Exchange (CME) Group launched micro Bitcoin futures at one-tenth the size of one Bitcoin. The original CME Bitcoin futures contract, launched in December 2017, is worth five Bitcoin. Micro contracts appeal to retail traders priced out by the original offering, and institutional users who wanted more wiggle room in their trading strategies.
April Global Fintech Monthly Monitor
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