- What are the S&P Cryptocurrency Indices? These indices are designed to measure the performance of a selection of digital assets (crypto assets) listed on recognized, open exchanges that meet minimum liquidity and market capitalization criteria. The indices aim to bring transparency to the emerging cryptocurrency market.
As of May 3, 2021, the S&P Cryptocurrency Index Series includes the following indices:
- S&P Bitcoin Index: This index is designed to track the performance of the digital asset Bitcoin.
- S&P Ethereum Index: This index is designed to track the performance of the digital asset Ethereum.
- S&P Cryptocurrency MegaCap Index: This index is designed to track the performance of the digital assets Bitcoin and Ethereum weighted by market cap.
- Who is your provider for cryptocurrency data? Our cryptocurrency pricing and reference data is provided by Lukka, Inc. via its Lukka Prime and Lukka Reference Data products. Lukka is the leading crypto asset data services provider for institutions, including fund administrators and fund auditors that serve over 160 active crypto funds today. For more information about Lukka, please refer to the website: https://data.lukka.tech/prime/.
S&P Global, Inc., the parent of S&P Dow Jones Indices LLC, is an investor in Lukka. For information on S&P Global's investment in Lukka, please see here. In addition, representatives of Lukka may provide consultative services to the Index Committee from time to time.
- What pricing is used as end-of-day for index calculation? S&P Dow Jones Indices uses the Lukka Prime Fair Market Value end-of-day price taken at 4:00 p.m. EST for cryptocurrency index calculation. Other end-of-day index levels will be added for additional markets and regionsas demand warrants. Lukka's methodology is the first of its kind for designed specifically for determining the fair value pricing of liquid cryptocurrency assets.
- What is the Fair Market Value Pricing Methodology? The Lukka Prime Fair Market Value Pricing uses a proprietary methodology to determine the primary exchange of each digital asset at any given time, which in turn determines that asset's fair market value.
- Why use Fair Market Value Pricing? The Fair Market Value Pricing Methodology was designed to align to both Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) guidelines. Additionally, the Lukka Prime infrastructure and data quality adhere to the standards set by the American Institute of Certified Public Accountants (AICPA) for Service Organizations. Lukka was the first AICPA SOC 1 Type 2 and AICPA SOC 2 Type 2 middle and back office crypto service organization. Many funds holding cryptocurrencies use Lukka data to strike a daily NAV.