What happened?
S&P Global launched the S&P Digital Markets 50, the first hybrid benchmark that combines 35 publicly traded crypto-linked companies with 15 major cryptocurrencies. The index was built with tokenization partner Dinari and will be made investible on-chain via a token on Dinari’s dShares platform. It follows S&P’s standard governance rules, including quarterly rebalances, a 5% cap per component, and market-cap minimums to keep the index focused on liquid, sizable assets.
Who does this affect?
This matters to institutional and retail investors who want a single, rules-based way to get exposure to both crypto assets and crypto-related stocks. It also impacts crypto firms, public companies with crypto exposure, tokenization platforms like Dinari, and asset managers who may build products or strategies around the new benchmark. Exchanges, custody providers, and market makers could see increased demand for listing, trading, and servicing the tokenized index and its constituents.
Why does this matter?
By creating an investible, on-chain benchmark that bridges equities and cryptocurrencies, S&P is likely to channel more mainstream capital into both large crypto tokens and crypto-linked stocks, boosting liquidity and price discovery. The tokenized structure lowers friction for global investors, which could speed adoption, encourage new tokenized products, and shift allocations in portfolios and ETFs toward the digital-asset ecosystem. Overall, this signals deeper integration of crypto into traditional markets and could amplify flows, volatility, and valuation links between crypto and related equities.