S&P Global announces hybrid crypto and equities index
S&P Global has unveiled plans for the S&P Digital Markets 50 Index, blending 15 cryptocurrencies with 35 crypto-linked public companies. The benchmark, developed with Dinari, aims to provide diversified exposure to the digital asset ecosystem. A tokenized version will track the index on-chain.
On October 7, 2025, S&P Global, through its S&P Dow Jones Indices division, announced the upcoming launch of the S&P Digital Markets 50 Index. This new benchmark combines 15 cryptocurrencies selected from the S&P Cryptocurrency Broad Digital Market Index with 35 publicly traded companies involved in digital asset operations, infrastructure providers, financial services, blockchain applications, and supporting technologies.
The index reflects the growing integration of cryptocurrencies into global markets. "Cryptocurrencies and the broader digital asset industry have moved from the margins into a more established role in global markets," said Cameron Drinkwater, Chief Product & Operations Officer at S&P Dow Jones Indices. "From North America to Europe to Asia, market participants are beginning to treat digital assets as part of their investment toolkit – whether for diversification, growth, or innovation strategies."
Dinari, a provider of tokenized U.S. public securities, collaborated on the index design and plans to issue a blockchain-based token, known as a dShare, to track its performance on-chain. This tokenization effort aims to make the index more accessible. "By making the S&P Digital Markets 50 investible via dShares, we are not just tokenizing an index, we are demonstrating how blockchain infrastructure can modernize trusted benchmarks," stated Anna Wroblewska, Chief Business Officer at Dinari. "For the first time, investors can access both U.S. equities and digital assets in a single, transparent product."
The index will feature caps on individual constituents at 5%, minimum market-cap thresholds of about $100 million for equities and $300 million for cryptocurrencies, and quarterly rebalancing. It joins S&P's existing series of digital asset benchmarks, including the S&P Cryptocurrency Indices and S&P Digital Market Indices, amid rising demand for rules-based tools in decentralized finance.
No specific launch date has been announced, though Dinari's token is expected by the end of 2025.