The S&P Crypto Index contains 243 coins. DOGE is not one of them

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CoinDesk has obtained a list of 243 digital assets from the S&P Cryptocurrency Broad Digital Market (BDM) Index. A cursory analysis has revealed that Wall Street’s latest attempt to measure the returns of the vast investment universe has ventured into the outermost rings of cryptos.

An eclectic mix of branded blockchains and lesser-known protocols is included in S & Ps BDM. Weighted according to the Index Makers’ rulebook, the Coin Collective reverts to a point-based performance figure. That figure hovered around 2,676 at the time of publication, down 14% for the month of July.

For comparison, bitcoin tracker S & Ps showed it down 450.86 points, or 11.5%, over the same time frame.

BDM certainly featured bitcoin and its end-June market capitalization of over $ 650 billion. But the index, which had an average market cap of $ 4.8 billion according to S&P, was largely made up of small and mid-cap cryptos whose stories are unknown to the average banker.

One of those tokens is skycoin, a small cap of $ 15 million with a trading volume of around $ 387,000. CoinGecko ranked it in the 660 district by evaluation. In November 2018, the now-deceased crypto iconoclast John McAfee had the coin logo tattooed on his back.

The index snubs a few notable coins. XRP doesn’t make the cut. Monero or BSV either.

This could be the result of S&P inclusion policies. The BDM oversight committee may reject a coin that may be unregistered security, that has privacy features, or that faces potential market disruption, according to governance documents.

But dogecoin, the bitcoin spin-off that best summed up the wacky boom times of memecoin season, isn’t on the list anywhere.

That’s because they don’t have a whitepaper, a source familiar with the selection process told CoinDesk.

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