S&P And Pantera Launch Crypto Index Built Around Protocol Fundamentals
S&P Dow Jones Indices and Pantera Capital launched the S&P Pantera Digital Asset Index (SPPDA), a rules-based crypto benchmark with 18 constituents. Unlike a market-cap-weighted basket, it selects assets using protocol-level revenue as a core factor, with Artemis Analytics providing revenue data and Lukka supplying pricing. The goal is to evaluate crypto networks by measurable economic activity, fees, and usage rather than token size alone. The index reflects a broader push for more institutional-grade crypto benchmarks as market-cap metrics often fail to show whether a network is generating sustainable value. It is not an ETF or direct investment product, but a benchmark that could support future funds, model portfolios, and risk frameworks. The launch also highlights the growing importance of crypto data providers in turning on-chain activity into usable financial infrastructure.
