It took three years, but Bitcoin is finally back to where it was 3 years ago, as of today Bitcoin is trading at $19100. However, this is far from the only exciting piece of news for Bitcoin holders. Bitcoin, along with other 550 cryptos will appear as indexes at Wall Street!
Cryptocurrency indexes will make a market debut in 2021. The index will cover 550 cryptos including, Bitcoin and Altcoin. The debut will be introduced by S&P DOW Jones Indices joint venture between S&P Global, CME Group, and News Corps. To execute this task, S&P DOW Jones will be US-based blockchain data provider Lukka. S&P DJI will be using data provided by Lukka — a Newyork based virtual currency company to track trends in more than 550 crypto coins.
As an explanation for this move, Global Head of Innovation Strategy at S&P DJI told in the press release, “ With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks.”
On the other hand, the news is an amazing leap by traditional finance to explore the potential of Defi. Rober Materazzi, CEO of Lukka added that their collaboration with S&P was another milestone that was bridging the gap between the crypto-asset ecosystem and traditional finance. This move by the world’s best-known Index provider could make cryptocurrency investments to the mainstream market.
Similarly, reliable pricing data by Lukka and S&P DJI will make cryptocurrency investment more accessible to common investors, and eliminate the nature of speculative and volatility risks of this market.
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