Overview
- S&P Dow Jones Indices and Pantera Capital introduced the S&P Pantera Digital Asset Index as an 18‑token benchmark built for institutional use.
- The index first screens tokens for market cap and liquidity then ranks eligible assets by protocol revenue measured over the prior two quarters using Artemis data.
- Ether, BNB, Solana, TRON and Hyperliquid are the five confirmed largest holdings at launch while Bitcoin and XRP were excluded because they do not meet the index’s revenue criteria.
- Final weights use adjusted market capitalization with a 35% cap on the largest holding and 20% caps on others, and the basket is rebalanced every quarter.
- The launch could steer institutional flows toward networks that generate recurring fees and it sets a data‑driven framework that asset managers may use to build index‑linked funds or active strategies.