Tag Archives: digital assets
The Case for Indexing Cryptocurrencies
While indexing has been established as a core building block in traditional asset classes such as U.S. equities,1 digital assets continue to be viewed largely through the lens of individual tokens, particularly Bitcoin. Seventeen years after Bitcoin’s genesis block, the market now includes increasing institutional participation, regulated exchanges, spot ETFs and an ecosystem that extends…
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Using Benchmarks to Understand and Measure Digital Assets
As digital assets become more institutional, the need for a clear way to define, measure and compare them is becoming more pressing. Without relevant, and credible, benchmarks, fund managers can struggle to explain performance, and allocators their risk, when comparing strategies against the wrong reference point. This is not just a theoretical challenge. It is…
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Parsing Productive Assets with the S&P Pantera Digital Asset Index
Moving beyond Narrative: A Fundamental Lens on Digital Assets Digital asset markets have evolved rapidly, but the tools used to evaluate them have not kept pace. Many crypto strategies have historically been shaped by market narratives, momentum or broad exposure to the largest tokens.1 Designed with the crypto and blockchain investment firm Pantera Capital and…
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The Rebalance | The Future of Indexing On-Chain with Kaiko
The Rebalance is a video podcast series hosted by S&P DJI CEO Cathy Clay, exploring the trends, ideas and innovations shaping the future of capital markets. In this installment, Cathy sits down with Kaiko CEO Ambre Soubiran to discuss S&P DJI’s collaboration with Kaiko to tokenize the iBoxx USD Treasuries Index and bring a major…
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The Role of Buffers in Reducing Index Churn in Crypto Indices
In the digital asset market, index rebalancing presents a heightened challenge relative to traditional asset classes. Market capitalizations in digital assets exhibit significantly higher short-term volatility, and the investable universe evolves rapidly as new assets emerge and others lose relevance. As a result, assets may cross eligibility thresholds more frequently than in traditional equity markets,…
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Decoding Sector Diversity and Network Concentration in Digital Assets
A common assumption about the digital asset market is that it remains a monolithic asset class dominated by a small number of names. However, examining the sector composition of the S&P Cryptocurrency Broad Digital Asset (BDA) Index reveals a more nuanced picture, one where diversity by asset count does not necessarily translate into diversity by…
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Deciphering the S&P Digital Markets 50 Index
The Crypto Ecosystem and Digital Asset Index Landscape As digital assets continue to move into the institutional mainstream, investors are increasingly looking for ways to gain exposure to the space in a holistic way that considers all parts of the crypto value chain, from equities to digital assets. The S&P Digital Markets 50 Index is…
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The Index Provider’s Next Act: Bridging TradFi and DeFi
For more than a century, index providers have served a specific function in capital markets: define the standard, calculate the benchmark and the data, license the IP. The infrastructure was built for a world of market opens and closes, batch file delivery, and intermediated access. That infrastructure continues to work extraordinarily well. But a parallel…
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Beyond Bitcoin – The Allocator Perspective: Why Digital Asset Benchmarking Is Entering a New Era
In the previous wrap-up of the webinar “Benchmarking Digital Asset Funds: Are Managers Measuring Performance Effectively?” we discussed the manager perspective; here, we take a look at the allocator perspective and the index provider response to a maturing market and the institutional market’s requirements for better benchmarks. The ETF Effect: Bitcoin Beta Has Become Cheaper…
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Beyond Bitcoin – The Manager Perspective: Why Digital Asset Benchmarking Is Entering a New Era
As institutional capital moves deeper into digital assets, one question is becoming increasingly relevant: what, exactly, should crypto fund managers be measured against? That was the central issue in a recent webinar, “Benchmarking Digital Asset Funds: Are Managers Measuring Performance Effectively?” hosted by Crypto Insights Group with participation from S&P Dow Jones Indices (S&P DJI),…
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