S&P Dow Jones Indices (DJI) has recently announced that they will be launching a customizable cryptocurrency indexing service. To make it possible, S&P DJI has formed a partnership with Lukka, a New York-based crypto exchange, to source crypto data. Especially, the main focus here is going to be on the aggregated data services of Lukka, including Lukka Reference Data and Lukka Prime. Currently, the crypto market is going through a complete bullish sentiment as bitcoin and altcoins price continues to reach a new all-time high at the end of the year.
S&P DJI Will Promote Transparency With Lukka
Peter Roffman, global head of innovation and strategy at S&P DJI, has said that the firm is extremely excited to have formed a partnership with Lukka. He believes that it will help them to promote transparency in the whole sector. Besides, cryptocurrency has emerged as one of the latest digital asset classes, which are highly reliable and user-friendly.
However, there are other Wall Street players along with S&P DJI who had come up with such crypto indexes. It includes firms like Bloomberg and Nasdaq, which have already maintain multiple crypto indices through different partnerships.
Demand For Crypto Indices Increasing
Over the past some time, there have been huge increases in institutional investors in the crypto market. This is the reason why there has been such a huge increase in demand for crypto indices. Robert Materazzi, CEO at Lukka, said:
“Customers with crypto data requirements will soon have access to the most trusted data in the industry underpinned by Lukka’s institutional-quality standards, such as AICPA SOC Controls.”
Furthermore, S&P DJI is also planning to buy another data provider giant because of the huge demand in this sector. This is going to be extremely beneficial for the firm as demand for crypto indices is increasing rapidly in the industry.