Financial data giant S&P has launched the top three crypto index products.
Crypto indices, the first of S&P, carry the symbols SPBTC, SPETH and SPCMC. The first of these symbols is Bitcoin, the second is Ethereum, and the last is the “MegaCap” combination.
What Is the Index Aiming for?
S & P’s crypto indices make it easier to see Bitcoin and Ethereum data among Wall Street traders looking to resolve the crypto price movement. The product package is rising according to the current indices of Bloomberg and Galaxy.
In the Frequently Asked Questions section, S&P said that it used Lukka Prime’s “Fair Market Value Price Charges” methodology to process the price of an asset in points, not dollars.
The methodology gave the following score evaluations on Monday afternoon:
7.611 for BTC, 24.811 for ETH and 5.617 for MegaCap.
S&P spokesperson Ray McConville said that each index measures price valuation, not actual price, and made the following emphasis:
“When we compare the two indices, Bitcoin’s 95% since the beginning of the year. It has grown by 67, but when looking at Ethereum, the growth rate is 273%. We see that it is 72. The actual index value is not as important as the change in this index value over time. “