S&P Sets the Stage for a New Crypto-Equity Era with Its Hybrid Index

S&P Global has unveiled what may become a defining bridge between traditional markets and the digital asset economy: the Digital Markets 50, a hybrid index combining major cryptocurrencies and publicly listed blockchain-related equities.

This initiative marks a decisive step for institutional investors seeking structured exposure to the rapidly converging worlds of traditional finance and Web3.
(Sources: BeInCrypto, S&P Global Press Release)

A Dual-Layer Index for a New Era

The Digital Markets 50 will track 15 leading cryptocurrencies alongside 35 publicly traded companies operating in blockchain, digital infrastructure, and crypto-finance. Each component must meet strict inclusion criteria — a minimum market capitalization of $100 million for equities and $300 million for crypto assets — with a maximum weighting of 5 % per component to ensure balanced representation.

Developed in collaboration with Dinari, a tokenization specialist, the index will also be available on-chain via the dShares platform, allowing investors to gain tokenized exposure to the combined performance of both crypto and blockchain equity markets.
(Sources: BeInCrypto, S&P Global Press Release)

Why This Matters

Bridging TradFi and Web3 — The index creates a structured and compliant pathway for investors navigating between traditional and digital assets.

Transparency and credibility — By applying rigorous standards and periodic rebalancing, S&P aims to establish an independent benchmark in a fragmented market.

Institutional adoption catalyst — Asset managers, pension funds, and family offices will finally have a credible vehicle for diversified exposure to digital assets.

Tokenized indexing — Bringing the index on-chain transforms it from a passive benchmark into an accessible, auditable, and programmable investment product.

This move reflects S&P’s recognition that the tokenization of financial infrastructure is not a distant concept but an ongoing structural shift.

Challenges & Watchpoints

Cross-regulatory complexity — Operating at the intersection of traditional securities and crypto assets will require careful legal coordination.

Asset classification — Defining which companies truly qualify as “crypto-linked” will be crucial to maintain integrity and avoid speculative bias.

Adoption of tokenized versions — Institutional uptake of the on-chain dShares product will depend on both regulatory clarity and trust.

Correlation management — Balancing exposure between volatile crypto markets and equity cycles remains a core challenge in constructing a sustainable hybrid index.

S&P’s Digital Markets 50 could become a cornerstone of the emerging convergence between traditional finance and decentralized infrastructure — signaling that the world’s largest index provider now sees crypto not as a speculative frontier, but as a structural asset class within the next generation of global markets.

Sources: BeInCrypto, S&P Global Press Release
Author: Brian LECLERE