S&P Dow Jones' Catherine Clay on new crypto index: Bringing the same principles from equity indices

Summary

Catherine Clay, CEO of S&P Dow Jones Indices, discusses the launch of a new crypto index in partnership with Pantera Capital. The index includes 18 revenue-generating protocol tokens such as Ether, Binance Coin, Solana, Tron, and Hyperliquid, but excludes Bitcoin. She also explains the decision not to fast-track SPAC inclusions into the S&P 500.

• S&P Dow Jones launches a new digital asset index with Pantera Capital, focusing on revenue-generating crypto protocols.
• The index has 18 constituents; top 5 are Ether, Binance Coin, Solana, Tron, and Hyperliquid.
• Bitcoin is excluded because it does not generate revenue from protocol usage.
• Index methodology includes seasoning, revenue, listing, and liquidity requirements; rebalances quarterly with a 35% cap on the top token.
• Catherine Clay says the index brings equity-index principles like trusted benchmarks to digital assets.
• The index committees decided not to allow fast-track inclusion for SPACs in the S&P 500 after public consultation.