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What to Know About Lukka Crypto and the New S&P 500 Crypto Index

InvestorPlace logo InvestorPlace 7/14/2021 Brenden Rearick
a screen shot of a video game: A close-up shot of the concept for a cryptocurrency exchange page. © Source: PixieMe / A close-up shot of the concept for a cryptocurrency exchange page.

The traditional financial world continues to intersect with cryptocurrencies. Seemingly each day, a major institution invests in decentralized finance or rolls out a new tool combining the two realms. A perfect example of this would be the new S&P 500 crypto index, created with assistance from the Lukka crypto team.

a close up of a screen: A close-up shot of the concept for a cryptocurrency exchange page. © Provided by InvestorPlace A close-up shot of the concept for a cryptocurrency exchange page.

So what exactly do you need to know?

New tools to help investors make their cryptocurrency selections are on their way. These latest indices are made through the partnership of S&P Dow Jones Indices, the analytics outfit behind the S&P 500 and Dow Jones Industrial Average indices, and Lukka, a crypto portfolio management company know for its exchange aggregation.

Gallery: 10 Cryptos That Offer Better Value Now (InvestorPlace)

Lukka is a portfolio management service. It allows users to aggregate data from their exchange holdings, wallet holdings and OTC Desk data into one place. Essentially, it allows a customer to view all of their crypto accounts in one simple place. It’s a very helpful tool for investors who spread their investments over a variety of exchanges and crypto wallets. Lukka has worked closely with S&P Dow Jones before. In December of last year, the pair launched three crypto indices.

What Are the S&P and Lukka Crypto Indices?

Altogether, these two companies announced they are launching five new indices. They include the Broad Digital Market index which, as its name implies, covers broad market trends across major exchanges. This is the main index of the bunch, and likely the most popular. The BDM pulls data from 240 different cryptos. This makes it one of the most robust crypto indices by an institution born outside of the crypto-sphere.

Two other indices are variations of the BDM index, with one dropping mega-cap cryptos like Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD) and the other dropping all large-cap digital currencies. The Crypto LargeCap and Crypto MegaCap indices, which round out the new products, measure only large and mega-cap cryptos.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.


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