In the latest big move to incorporate crypto by traditional finance, 550 coins will appear in the new indexes from next year. S&P Dow Jones Indices (S&P DJI), a joint venture between S&P Global, the CME Group and News Corp, will debut cryptocurrency indexes in 2021, it has confirmed. In a press release on Dec. 3, S&P Dow Jones Indices described Bitcoin and altcoins as an “emerging asset class.”
I think this is negative for bitcoin. I wonder what you guys think about this topic.
This is NOT good news. Of the 550 coins to appear in those new indices, we all know that more than 99% of those cryptocurrencies are shitcoins.
Plus what would the Bitcoin POW index be composed of? It will be laughable.