S&P Global Dumps Bitcoin and XRP from Crypto Index

S&P Global has removed Bitcoin (BTC) and XRP from its crypto index due to their lack of revenue generation. The decision reflects a shift in the index's criteria, prioritizing projects that generate revenue over those with large market capitalization. This change has led to a decrease in market confidence for XRP, with odds of it reaching an all-time high by the end of 2026 falling from 8% to 7%. Investors are now watching S&P Global and Ripple's responses to this move.

The exclusion of BTC and XRP from the index is a significant development in the crypto market. Despite their large market capitalization, these cryptocurrencies do not generate revenue, which is a key factor in the new criteria. This change may have implications for other projects that rely on market cap alone for valuation.