TLDR
- S&P Global launches Digital Markets 50 Index combining 15 cryptocurrencies and 35 blockchain stocks
- Individual assets capped at 5% with $300M minimum for crypto, $100M for equities
- Tokenized investment product launching via Dinari’s dShares platform by December 2025
- Index follows quarterly rebalancing and standard S&P governance protocols
- Marks traditional finance’s deeper integration with digital asset markets
S&P Global revealed plans Tuesday to launch the S&P Digital Markets 50 Index. The benchmark represents the company’s first hybrid product tracking both cryptocurrencies and blockchain-related equities.
Developed with tokenization firm Dinari, the index will monitor 15 digital assets and 35 publicly traded companies. Each cryptocurrency must maintain a minimum market cap of $300 million, while stock components require $100 million valuations.
No single asset can exceed 5% of the total index weighting. This structure prevents overconcentration in any particular investment.
Cameron Drinkwater leads product and operations at S&P Dow Jones Indices. He stated that digital assets have transitioned “from the margins into a more established role in global markets.”
The $300 million crypto threshold currently applies to approximately 276 digital assets. The stock component will include companies operating in digital asset infrastructure, mining operations, exchanges, financial services, and blockchain technology.
Major Players and Market Composition
While S&P hasn’t released the full constituent list, potential inclusions span the blockchain ecosystem. Strategy holds Bitcoin as a treasury asset, Coinbase operates a major cryptocurrency exchange, and Riot Platforms runs mining facilities.
The index adds to S&P’s existing digital asset benchmarks. These include the S&P Cryptocurrency Indices and S&P Digital Market Indices launched previously.
Traditional indexes serve as performance benchmarks rather than direct investments. They typically underpin exchange-traded funds and structured products that investors can purchase.
Tokenized Investment Access
Dinari plans to create an investable token mirroring the index performance. The dShare product will debut on Dinari’s platform before year-end.
Anna Wroblewska serves as Dinari’s chief business officer. She explained the product demonstrates “how blockchain infrastructure can modernize trusted benchmarks.”
The tokenized format enables investors to access US equities and digital assets through one instrument. This approach uses blockchain technology to deliver traditional financial products.
Several major exchanges are expanding tokenized equity offerings. Coinbase, Kraken, Gemini, and Robinhood all operate in this space.
Robinhood CEO Vlad Tenev addressed tokenization at last week’s Token2049 conference in Singapore. He described it as an unstoppable force that will eventually transform the entire financial system.
Existing Crypto Index Products
Multiple crypto index funds already operate in markets. The Bitwise 10 Crypto Index Fund provides exposure to major digital assets by market capitalization.
Hashdex manages products tracking the Nasdaq Crypto Index. HASH11 trades in Brazil while the Hashdex Nasdaq Crypto Index US ETF serves American investors.
The index will follow S&P’s standard quarterly rebalancing schedule. It adheres to the company’s established governance frameworks for index management.
Reports indicate the Securities and Exchange Commission is examining frameworks for tokenized securities. The regulatory body is exploring methods to enable blockchain-based trading of traditional stocks.
