A new cryptocurrency index from S&P Dow Jones Indices and Pantera Capital is taking a distinctly Wall Street approach to digital assets—and that means leaving Bitcoin (CRYPTO: BTC) out.
Instead of tracking the largest cryptocurrencies, the benchmark focuses on blockchain networks that generate revenue from real-world usage. Eighteen other assets made the cut, including Ethereum (CRYPTO: ETH), BNB (CRYPTO: BNB), Solana (CRYPTO: SOL), TRON (CRYPTO: TRX) and Hyperliquid (CRYPTO: HYPE).
Cathy Clay, CEO of S&P Dow Jones Indices, told CNBC on Wednesday that the company is applying the same broad principles used in its equity benchmarks to digital assets. Operating history, revenue generation, liquidity and listing status are some key criteria for index inclusion.
Why Didn’t Bitcoin Make The Cut?
While Bitcoin met many of the index’s broader eligibility standards, Clay said it is not considered a revenue-generating protocol.
