Over 500 cryptocurrencies will be given a main stage on Wall Street as one of the world’s most prominent index firms, S&P Dow Jones Indices, will launch their new Crypto Index next year.
The world’s leading index provider, S&P Dow Jones Indices, is launching a Bitcoin and cryptocurrency index in 2021 together with New York-based digital currency and blockchain data firm Lukka. The Crypto Index will be following more than 550 of the top traded coins and tokens.
The move to incorporate such a large number of digital assets on the index demonstrates that not just Bitcoin and other major blockchain coins will be gaining a significant amount of attention through the Crypto Index, but also smaller up and coming altcoins, taking cryptocurrencies further mainstream on Wall Street.
S&P Dow Jones Indices’ Global Head of Innovation and Strategy, Peter Roffman, highlighted the rising stature of crypto for traditional finance by stating that “with digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks.”
The future Crypto Index by one of the most respected index providers in the world highlights the huge leaps the crypto industry has taken toward being accepted on the mainstream, including in the corridors of legacy finance. The move comes after surging interest from institutional investors and hedge funds in Bitcoin and the world’s top cryptocurrencies, partly as a hedge against rising inflation of the US dollar and other national fiat currencies.
The soon to be launched Crypto Index by S&P Dow Jones would provide accurate and transparent data from a reliable and familiar source on Wall Street at a time when institutions and Fortune 500s are lining up to put a large portion of their reserve cash into Bitcoin and other cryptocurrencies.
It is further important to note that since Klever’s own token KLV, with a market cap exceeding $20 million at the time of writing, is currently ranked among the Top 400 coins and tokens on CoinMarketCap, the possibility that KLV will be among the 550 cryptos on the Crypto Index is increasingly likely. This is especially true given the ongoing projects currently being built by the Klever.io team and the future plans of the Klever ecosystem, a fact that makes us in the Klever Foundation believe that KLV is today wildly undervalued. You can check out our updated roadmap here.
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Director of Communications and Marketing at Klever.io