S&P Global Unveils First Hybrid Crypto-Equity Benchmark

S&P Global has taken a new step into digital finance by launching the S&P Digital Markets 50 Index, a benchmark combining cryptocurrencies and crypto-linked equities. The index marks the company’s first hybrid measure, bridging decentralized assets with traditional markets.

Moreover, the move comes as Wall Street’s exposure to blockchain grows and investor demand for transparent digital-asset benchmarks accelerates. As a result, S&P’s entry follows record inflows into tokenized funds and a rebound in crypto-related equities through 2025.

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Index Blends Tokens and Tradable Stocks

The Digital Markets 50 will track 35 publicly traded firms involved in blockchain and digital-asset operations, while also including 15 leading cryptocurrencies from the S&P Cryptocurrency Broad Digital Market Index.

Each component must meet capitalization thresholds—$100 million for equities and $300 million for cryptocurrencies—with individual weights capped at 5 percent. The index will also rebalance every quarter to ensure liquidity and diversification.

S&P Global said the official launch is scheduled for a few weeks from now and that it will not yet disclose the names of included companies.

“Digital assets have moved from the periphery into the financial mainstream,” said Cameron Drinkwater, Chief Product and Operations Officer at S&P Dow Jones Indices. “Our goal is to provide clear, rules-based tools for investors seeking reliable exposure to this expanding market.”

S&P Global developed the index with Dinari, a US-based tokenization platform offering on-chain access to public securities. Dinari will issue a tokenized version of the benchmark via its dShares platform, allowing blockchain investors to trade exposure directly.

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“This collaboration proves how tokenization can modernize trusted benchmarks,” said Anna Wroblewska, Dinari’s Chief Business Officer. “For the first time, investors can hold both U.S. equities and crypto assets in a single transparent instrument.”

In response, crypto commentators quickly responded. Lark Davis, a Bitcoin investor with 1.44 million followers, called the launch “super mega bullish,” saying it could drive broader diversification across the market.

Bridging Traditional Finance and Blockchain

Analysts say the index could accelerate institutional adoption of tokenized benchmarks and blur lines between public markets and blockchain networks. It may attract ETF issuers and digital-custody providers seeking hybrid exposure strategies.

The launch follows recent integration milestones. Robinhood entered the S&P 500 in September after strong crypto-trading revenue. Robinhood (HOOD) has gained 290% year-to-date, trading near $145.

Over the same period, Coinbase (COIN) is up 51% to $375, while MicroStrategy (MSTR) rose 13% to $328. Bitcoin miners Marathon Digital (MARA) and Riot Platforms (RIOT) are up 17.6% and 105%, respectively.

S&P’s Digital Markets 50 is poised to become a reference point for investors measuring correlations between token prices and listed crypto companies. Furthermore, it underscores how benchmark providers are embedding blockchain infrastructure into global financial systems.

“Independent, transparent standards remain essential as digital markets evolve,” Drinkwater added. “This index helps define how traditional and decentralized finance can operate side by side.”