S&P, Pantera Launch Protocol-Revenue Digital Asset Index

S&P Dow Jones Indices has spent years extending traditional benchmark discipline into crypto as institutions seek diversified exposure beyond Bitcoin and price-led token baskets. Its partnership with Pantera Capital, which manages more than $3 billion across digital-asset strategies, targets that gap with a rules-based gauge of economic activity. The index is meant to separate networks generating measurable protocol revenue from speculative or fashionable assets and can underpin investment products or serve as a reference for active portfolios.

The firms launched the S&P Pantera Digital Asset Index on July 21, 2026. Starting from the S&P Cryptocurrency Broad Digital Asset Index, it screens for minimum protocol revenue, market capitalization and liquidity, then ranks eligible assets by aggregate protocol revenue over the previous two quarters and weights them by adjusted market value. The initial 18 constituents include Ether and BNB; the biggest holding is capped at 35%, most others at 20%, and the benchmark rebalances quarterly.