New S&P Pantera Digital Asset Index targets institutional investors with revenue-generating digital assets, excluding Bitcoin and meme coins.
Pantera Capital, S&P Dow Jones Indices, and Artemis launched the S&P Pantera Digital Asset Index on July 20, excluding the largest cryptocurrency, Bitcoin. The index focuses on revenue-generating digital assets to address institutional investor concerns over existing crypto index products.
The index applies criteria similar to the S&P 500, requiring consecutive quarters of positive protocol revenue and a circulating market cap exceeding $500 million ($250 million for existing constituents). Weighting is based on adjusted market capitalization, with a 35% cap for the largest constituent and 20% for others, rebalancing quarterly.
The launch aims to provide a more structured alternative to current crypto indexes, which often include meme coins and inactive blockchains, offering limited value to investors.