New S&P Pantera Digital Asset Index Launched; Ethereum, Solana, and Hyperliquid Included
The new S&P Pantera Digital Asset (SPPDA) index launched on July 21, focusing exclusively on cryptocurrencies that generate real protocol revenue. This includes major names like Ethereum (ETH), Solana (SOL), and Hyperliquid (HYPE). The index excludes speculative assets such as Bitcoin and XRP due to their lack of direct revenue generation for token holders. The SPPDA is designed with institutional investors in mind, featuring only projects with a market cap above $500 million that have demonstrated two consecutive quarters of positive protocol revenue. These are weighted by adjusted market value but capped at 35% per asset to avoid overconcentration. The index currently includes Ethereum, Binance Coin, Solana, TRON, and Hyperliquid as its top constituents. Being included in the SPPDA is seen as a quality signal that could attract capital flows and potentially lead to an ETF based on the benchmark. This inclusion may result in increased demand for these assets if such funds are launched.
Topics: crypto index Ethereum Hyperliquid protocol revenue Solana