S&P and Pantera Capital Launch Digital Asset Index

S&P Dow Jones Indices and Pantera Capital have jointly launched the S&P Pantera Digital Asset Index, aimed at institutional investors. This index is based on fundamental screening, excluding Bitcoin and meme coins, and only includes tokens and companies with real utility and actual revenue. It is weighted by market capitalization adjusted for circulation, initially comprising 18 constituents that generated an annualized revenue of over $3 billion in the past two quarters, including Hyperliquid, Solana, and Aave. The index transforms the financial viability standards of the S&P 500 into a digital asset framework, requiring that protocol revenues be positive for multiple consecutive quarters and meet a minimum threshold, verified by on-chain data provider Artemis. It confirms that revenue is distributed to holders through buybacks, staking yields (after inflation), dividends, or treasury controlled by token holders. Pantera stated that it is in discussions with asset management firms regarding ETFs and other products based on this index, but no tracking products have been launched yet.

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