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The financial institution announced that it will soon add more cryptocurrencies to its offering, making buying Bitcoin and Ethereum as easy as investing in S&P Global indices.
3 min read
Cryptocurrencies are gaining more and more ground in the world of investments and now they have reached Wall Street . The financial S&P Global made official the entry of Bitcoin and Ethereum to its indices, making it easier for investors to buy these assets.
This week, cryptocurrencies have made the financial headlines. On the one hand, Ethereum reached its historical maximum price , exceeding $ 3,000 per unit (about 60,000 Mexican pesos). This helped his co-founder, Vitalik Buterin , become the youngest billionaire in the world at age 27. Meanwhile, a tiktoker created his own cryptocurrency called ‘Scam’ , which although it started as a joke, achieved a capitalization of 70 million dollars at its launch.
Last December, the Manhattan-based entity announced its plan to venture into cryptocurrencies with Lukka , a cryptic asset data analysis and software company for institutions. This will calculate the prices with a special methodology explained in a document published by the finance company.
Cryptocurrencies entered S&P Global under the name S&P Bitcoin Index ( SPBTC) , S&P Ethereum Index (SPETH) and S&P Crypto Mega Cap Index (SPCMC) . The first two will track the performance of the two most popular and capitalized cryptocurrencies, while the third will do the same for other digital currencies.
For its part, Bloomberg already has its own index to invest in various cryptocurrencies, called the Bloomberg Galaxy Crypto Index (BGCI) .
– Bitcoin (@Bitcoin) April 28, 2021
These indices are intended for investors who have no experience in the cryptocurrency market. This way they will be able to enter the game in a simple way, guided by an entity that the advisors. In fact, S&P Global published an FAQ page for less-versed investors to answer their questions.
The financial company announced that, although for now they will only focus on Bitcoin and Ethereum , they will soon include other cryptocurrencies, giving investors the opportunity to diversify their assets in a field that is as controversial as it is exciting.
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