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S&P Global has announced plans to introduce a new benchmark index that will track a diverse mix of digital assets and blockchain-related companies — a move that underscores the growing integration of the crypto sector into mainstream finance.
The S&P Digital Markets 50 Index, developed in collaboration with tokenization firm Dinari, will feature 15 major cryptocurrencies — each with a market capitalization of at least $300 million — alongside 35 publicly listed companies in the blockchain and digital asset space, each valued at no less than $100 million, according to S&P’s Tuesday announcement.
While the full list of constituents has yet to be disclosed, S&P noted that no single component will account for more than 5% of the index’s total weighting. Among the likely inclusions are some of the industry’s leading names, such as MicroStrategy (MSTR) — a major corporate holder of Bitcoin — Coinbase (COIN), a top U.S. crypto exchange, and Riot Platforms (RIOT), a prominent Bitcoin mining firm.
Cameron Drinkwater, Chief Product and Operations Officer at S&P Dow Jones Indices, remarked that the rapid evolution of the digital asset ecosystem has pushed crypto “from the margins into a more established role in global markets.”
Although indexes themselves are not directly investable, they play a crucial role as benchmarks for market performance and often serve as the foundation for exchange-traded funds (ETFs) and other investment products that allow investors to gain exposure to the broader digital asset industry.
Dinari to Launch Tokenized Version of S&P’s Digital Markets 50 Index
Dinari is set to introduce a tokenized version of the newly unveiled S&P Digital Markets 50 Index, referred to as a “dShare.” This innovative product will enable investors to gain direct on-chain exposure to the assets tracked by the index. The investable version is expected to debut by the end of 2025, further bridging the gap between traditional finance and blockchain-based investment instruments.
Indexing Marks the Next Wave of Crypto Recognition
S&P Global’s entry into crypto indexing signals a pivotal moment for the digital asset industry, suggesting that passive exchange-traded funds (ETFs) could eventually mirror the Digital Markets 50 Index — similar to how conventional ETFs track equity benchmarks like the S&P 500.
For instance, the SPDR S&P 500 ETF provides broad exposure to the U.S. stock market by replicating the S&P 500’s performance. A similar model applied to crypto could open the door for mainstream investors to participate in the digital asset market through a single, diversified product.
Several such products already exist within the crypto investment landscape. The Bitwise 10 Crypto Index Fund (BITW), for example, tracks the Bitwise 10 Index, comprising the largest digital assets by market capitalization. Likewise, Hashdex’s Nasdaq Crypto Index products — including HASH11 in Brazil and the Hashdex Nasdaq Crypto Index US ETF (NCIQ) — offer regulated, diversified exposure to leading cryptocurrencies through exchange-traded vehicles.
Meanwhile, the broader financial world is increasingly acknowledging tokenization as a transformative force. As Cointelegraph recently reported, the U.S. Securities and Exchange Commission (SEC) is said to be exploring a regulatory framework that would allow traditional stocks to be traded as tokenized assets on blockchain networks. If realized, such a move could blur the lines between traditional and digital markets, ushering in a new era of financial interoperability.
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