: 5 Things to know about the new Dow Jones Crypto indexing service #IndiaNEWS #Contributor The year 2020 will certainly be remembered for many things. The global COVID-19 pandemic is first among these

5 Things to know about the new Dow Jones Crypto indexing service #IndiaNEWS #Contributor
The year 2020 will certainly be remembered for many things. The global COVID-19 pandemic is first among these things; the many negative issues that surround it will be vividly remembered as well.

As we get a bit of distance, though, surely some positives will come from this awful time. One of the bright spots we may look back on is that 2020 could be the year when cryptocurrency started going mainstream.

With many traditional fiat currency-based financial products providing less optimism than usual. Thanks to the global financial crisis, investors are looking for alternatives. Many have turned their eyes towards cryptocurrency. This is evidenced by Bitcoin’s record-breaking end of 2020/ beginning of 2021 where the coin sailed past the ,000 mark.

Another indicator that crypto is moving from sparsely trafficked corners of the internet and into mainstream consciousness is that bigger financial players are beginning to get more involved in the markets. One of the biggest players in the investing world is S&P Dow Jones Indices. At the end of 2020, they announced that in 2021, they would be launching their own crypto indexes.

This is a big step for crypto as a whole. It draws more attention to space and validates digital currency as more legitimate trading and investing vehicle. The announcement is something we will likely look back on as a major step towards crypto becoming completely mainstream. Here are five points to know about the new Dow Jones crypto indexing service.

1. What S&P Dow Jones Indices is

S&P Dow Jones Indices is a joint venture between CME Group, News Corp, and S&P Global that was launched in 2012. The company is best known for producing stock market indices. These indices are groups of financial products in which investors can invest through index funds. S&P Dow Jones Indices produces and maintains the two most well-known stock market indices in the world. The Dow Jones Industrial Average and the S&P 500.

Simply put, S&P Dow Jones Indices is one of the most important companies in the financial field. Any trader or investor involved in the stock market is not only well-aware of this company but also are likely to use their products on a daily basis. This is one of the most mainstream of mainstream companies in the investment world.

2. Why S&P Dow Jones Indices is getting involved now

Bitcoin was launched in 2009 and the crypto market has been growing, both in value and number of coins, ever since. At any point, big companies like S&P Dow Jones Indices could have gotten involved. Why have they chosen 2021 as the right time?

Like most things that are happening as the calendar rolls over from 2020 to 2021, much of it has to do with the pandemic.