S&P Dow Jones Indices says it’s decided against introducing cryptocurrency indexes — for now.
With the popularity of bitcoin and other digital currencies, S&P has been receiving requests from customers to build gauges tracking them, Alex Matturri, chief executive officer, said in an interview. But for the time being, at least, the index provider has no plans to offer them.
“Not right now,” Matturri said during a visit to Tokyo last month. But “it’s prudent for us to take a wait-and-see approach.”
S&P regularly receives requests from clients for various types of indexes, and often turns them down, but its final verdict on crypto gauges will probably take longer.
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“We have a reputation, we’ve been around a lot of years and we’re not going to tarnish our reputation over just creating a new product idea,” Matturri said. But the concept of cryptocurrencies is interesting and “clearly there is a demand — that’s something worthwhile to keep an eye on.”