Key facts
- S&P Dow Jones Indices and Pantera Capital launched the S&P Pantera Digital Asset Index.
- The index excludes Bitcoin and XRP because they did not meet minimum revenue-generation requirements.
- It tracks blockchain networks based on protocol revenue, market capitalization, and liquidity.
- The top five constituents are Ether, BNB, Solana, TRON, and Hyperliquid.
- The index is weighted by market capitalization with specific caps on individual holdings and rebalanced quarterly.
S&P Dow Jones Indices and Pantera Capital have launched the S&P Pantera Digital Asset Index, a new benchmark designed for institutional investors that prioritizes blockchain networks based on protocol revenue rather than market capitalization or token price alone. This approach marks a departure from many existing crypto benchmarks. The index excludes Bitcoin and XRP, as they did not meet the minimum revenue-generation requirements. The top five constituents are Ether, BNB, Solana, TRON, and Hyperliquid, with the index featuring 18 constituents in total. Holdings are weighted by market capitalization, with caps on individual token weightings, and the index is rebalanced quarterly. This launch aligns with a broader industry trend of developing institutional-grade benchmarks for digital assets.