S&P Dow Jones CEO: No Cryptocurrency Price Index – Yet
With cryptocurrencies becoming more and more popular, people are wondering and rightly so, when they will be added to the market. Unfortunately, current information shows that the S&P Dow Jones will not be introducing a cryptocurrency index any time soon, according to chief executive officer, Alex Mutturri.
Of course, Mutturri is completely aware of the popularity and growing uptake of digital currencies. Bloomberg recently featured a quote by Matturi, which essentially states that individuals will need to “wait-and-see” concerning the introduction of such currencies into a price index. Further, Matturri called the approach “prudent.”
Therefore, although Matturri concedes that cryptocurrencies are in demand and that they are worthwhile “to keep an eye” on, they are not at a point where they should be introduced into a price index.
Although Matturri seemly has a favorable attitude toward cryptocurrencies, the Securities and Exchange Commission (SEC) has taken a much more stringent stance. Introducing cryptocurrencies into an exchange and turning them into exchange-traded products (ETPS) may bring them under the coverage of the commission and subject to various rules and regulations. Further, introducing the currencies into the market would alter them from a decentralized system into one that is very centralized. Ultimately though, the fact of the matter is that regardless of what the SEC’s stance is, the trading of currencies on an exchange is certainly a ways away.