I don't think it's good news either, it's good news for greedy wolves of Wall street as they smell the profit and probably ready to promote shitcoins as a new kind of junk or penny stocks and then dump them.
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.
YES! 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.