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S&P Launches Crypto Index That Snubs Tokens Without Revenue
S&P Dow Jones, together with Pantera Capital, introduced a new crypto index that weights Ethereum, Solana and Binance Coin based on the revenue each blockchain's protocol generates, instead of price momentum.
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What happened
S&P Dow Jones, together with Pantera Capital, introduced a new crypto index that weights Ethereum, Solana and Binance Coin based on the revenue each blockchain’s protocol generates, instead of price momentum.
Confirmed
Global impact / market context
By prioritizing revenue, the index offers a clearer picture of which blockchains deliver actual economic value, helping investors assess risk and allocate capital to projects with sustainable business models.
Confirmed
The index launch reflects growing investor demand for crypto benchmarks that focus on actual usage rather than speculative price swings, aligning with broader trends toward data‑driven investment products.
Confirmed
What to watch
- How crypto assets without measurable on‑chain revenue—meaning earnings recorded directly on the blockchain—will be treated, which could affect their chances of being added to future indices. Analyst inference
- Whether the revenue‑based weighting will attract institutional investors—large financial firms that manage pooled capital—looking for exposure linked to genuine economic activity on blockchain networks. Analyst inference
- Potential impact on token prices if the index drives demand toward revenue‑generating blockchains, influencing liquidity—how easily assets can be bought or sold—and overall trading volumes. Analyst inference
Affected assets
- SOL — Solana
- ETH — Ethereum
- BNB — BNB