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Bitcoin, ethereum get S&P cryptocurrency indexes

05/04/2021 | 04:23pm

Cryptocurrencies received another push into the mainstream Tuesday with S&P Dow Jones Indices launching new cryptocurrency indexes.

The same company behind the S&P500 and Dow Jones stock market gauges launched the S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, as a way of bringing the digital currencies to Wall Street trading floors.

The indexes will measure the performance of the digital assets tied to them.

More crypto-indices will be launched later in the year.

Bitcoin, the most popular cryptocurrency, has seen a wild rally in prices after backing from high-profile companies including Tesla.

Falling below the $54,000 price tag on Tuesday, bitcoin is off recent highs, but still up nearly 300 percent over the past six months.

Ethereum, meanwhile, touched a record high above $3,500 on Tuesday after rising above $3,000 for the first time over the weekend.

© Reuters 2021
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