S&P Dow Jones Indices, a major financial data provider, said Thursday it will launch a customizable cryptocurrency indexing service in partnership with crypto tax service Lukka in 2021.
The coming product will likely become Wall Street’s go-to hub for cryptocurrency pricing data at a time when more investors than ever are searching. This year’s bull run is said to be driven by institutions angling for exposure to bitcoin.
“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
Surging investor interest “reinforced the need for reliable pricing data,” S&P DJI said in a press release.
This is a developing story and will be updated.