Crypto
Home›Crypto›Market Structure›S&P and Pantera launch blockchain fundamentals index t…
S&P and Pantera launch blockchain fundamentals index tied to protocol revenue
The rules-based benchmark excludes tokens below minimum protocol revenue, market cap and liquidity thresholds, and it launches with 18 constituents, led by Ether, BNB, Solana, TRON and Hyperliquid.
S&P Dow Jones Indices and Pantera Capital have launched a digital asset index that aims to measure blockchain networks using protocol revenue rather than traditional token-price or market-cap weighting, according to Cointelegraph.
The new benchmark, which is built from the S&P Cryptocurrency Broad Digital Asset Index, includes only assets that meet minimum thresholds for protocol revenue, market capitalization and liquidity. Eligible networks are then ranked by aggregate protocol revenue over the prior two quarters and weighted by adjusted market capitalization, with the largest holding capped at 35% and other constituents generally capped at 20%.
The index is rebalanced quarterly and is designed for institutional allocation, with the potential to serve as the basis for investment products or as a reference benchmark for actively managed digital asset portfolios. S&P said the framework is intended to help distinguish more established blockchain activity from speculative exposure.
The index launched with 18 constituents, with Ether (ETH), BNB (BNB), Solana (SOL), TRON (TRX) and Hyperliquid (HYPE) among the five largest holdings. Cointelegraph also noted that Bitcoin (BTC) and XRP (XRP) are the largest non-constituents versus the broader S&P Cryptocurrency Broad Digital Asset Index, reflecting the protocol revenue-based selection approach.
Latest closeBitcoin $65,970.20 ▼0.8%|Ethereum $1,934.24 ▲0.3%|Solana $77.98 ▼0.2%