S&P Launches Crypto Index Focusing on Fundamentals Over Market Cap

Pantera Capital and S&P Dow Jones Indices have launched the first S&P Digital Asset Index, which features 18 cryptocurrencies that prioritize strong fundamentals, real economic activity, and sustainable revenue. This index does not include Bitcoin or XRP.

The move suggests a shift in crypto investment, where institutional capital may favor fundamentally strong projects over traditional market leaders. This could lead to a divergence in the next crypto cycle, emphasizing utility and growth over price momentum.