Skip to content

'Wait-and-See': S & P Dow Jones CEO Is not Launching a Cryptocurrency Price Index (Yet)

--Advertisements --

Join our community of 10,000 traders on for just $ 39 per month.

The S & P Dow Jones will not be introducing a cryptocurrency index, at least for today, says chief executive officer, Alex Matturri .

He nevertheless acknowledges the popularity and growing uptake of digital currencies such as bitcoin. Bloomberg quoted Matturri saying the Dow Jones was taking a wait-and-see approach to the introduction of cryptocurrency price indices.

Matturri said the S & P Dow Jones had a NYSE-owner ICE has done for its institutional clients. However, the exchange is currently in progress

"Not right now. "It's prudent for us to take a wait-and-see approach," he said.

He however concedes that "clearly there is demand for cryptocurrencies and highlights that digital currencies and assets are" something worthwhile to keep an eye "on.

-- Advertisements --

Despite Dow Jones' keenness to keep an eye on cryptocurrencies and claims for it to introduce a crypto gauge, the US Securities Exchange Commission has a less favorable attitude towards exchange-traded products (ETPs) that are based on baskets of cryptocurrencies.

Moreover, questions remain about the regulatory status of the underlying cryptoassets themselves.

Earlier this month, global valuations of the ethereum – the world's second most popular currency after being debited by six percent after reports of such cryptocurrency as ethereum.

"You do not want an index that somebody is going to use in a product that either manipulates markets or is easily manipulated. If it's meant for a gambling, well, go to Macau or Las Vegas. That's not what investing is about, "Matturri said.

However, according to the S & P Dow Jones chief executive, the blockchain technology behind cryptocurrencies is alluring to its decentralised management attributes. And because of this crypto tenet, it was not conceivable to completely dismiss the possibility of crypto indexes in the future

See also  ADAY aims to simplify your wardrobe with a $ 2M financing

"It's still in the mainstream, more legitimized. But it could happen quickly. Technology is much more disruptive today than it ever was, "Matturri concluded.

-- Advertisements --

Featured Image from Shutterstock

Follow us on Telegram.