This is a segment from the Forward Guidance newsletter. To read full editions, subscribe<\/a>.<\/em><\/em><\/p>\n Firms continue responding to investor calls for diversified exposure to a crypto space becoming more entwined with the traditional financial system.\u00a0<\/p>\n S&P Global is a few weeks from offering a Digital Markets 50 Index that would blend 15 tokens with 35 crypto-linked equities involved in digital asset operations, infrastructure, financial services, blockchain applications, etc. This mix of crypto stocks and tokens is a first for the index giant.\u00a0\u00a0<\/p>\n The company did not reveal the index\u2019s specific holdings, but noted tokens would be selected from the S&P Cryptocurrency Broad Digital Market Index (a benchmark with BTC, ETH, XRP, BNB and SOL as its top five holdings). Here\u2019s that index\u2019s track record:\u00a0<\/p>\n <\/span><\/span><\/p>\n This comes as the crypto segment has moved \u201cfrom the margins into a more established role in global markets,\u201d S&P Dow Jones Indices chief product\/ops officer Cameron Drinkwater said. Market participants are gravitating to crypto for diversification, growth or innovation strategies, he added.\u00a0<\/p>\n This isn\u2019t some crypto-focused firm building an index like this. It\u2019s the financial goliath who brought you the S&P 500. Ever heard of it?\u00a0<\/p>\n Dinari helped design the index and plans to create a token that tracks the benchmark by the end of 2025. The company offers what it calls dShares \u2014 150 or so tokenized stocks and ETFs that are backed 1:1 by off-chain assets.<\/p>\n \u201cIt was clear to us that there\u2019s a need for the \u2018S&P 500\u2019 of the space,\u201d Dinari chief business officer Anna Wroblewska told me. \u201cWho better to build it with than the incredible S&P team.\u201d<\/p>\n Wroblewska told me in May that the company was focused on bringing the entire stock market onchain. Its subsidiary, Dinari Securities, received a broker-dealer registration with the SEC and FINRA the following month.<\/p>\n \u201cIn the longer term, Dinari\u2019s mission is to help facilitate a global, pooled on-chain secondary market for tokenized stocks and other RWAs,\u201d Wroblewska noted at the time. \u201cImagine, for example, the cross-asset opportunities if NYSE and the CBOE and the CME were all unified in one place that all market participants could access.\u201d<\/p>\n Today, the Dinari executive added that her firm is focused on scaling tokenized equities while \u201cpreserving the ownership rights and control that make US capital markets function so well.\u201d I\u2019m also told to keep an eye out for Dinari\u2019s US launch and regulated 24\/7 trading.\u00a0\u00a0<\/p>\n Let\u2019s go back to indexes for a moment, as CoinShares is set to introduce an ETF that tracks the CoinShares-Compass Altcoins Index.<\/p>\n That benchmark allocates to emerging layer-1 alternatives across three themes: high-speed blockchains, interoperability protocols and growing platforms. The ETF will offer this exposure by investing in ETPs listed in the US, Canada, the UK and EU.<\/p>\n Its ticker will be DIME \u2014 clever, given its plan to allocate to 10 tokens:<\/p>\n These upcoming launches focused on diversification come after the Grayscale CoinDesk Crypto 5 ETF \u2014 holding BTC, ETH, XRP, SOL and ADA \u2014 hit the NYSE Arca last month. Hashdex recently added several assets to its crypto index ETF<\/a> \u2014 tracking a benchmark CIO Samir Kerbage said could one day hold 200 assets.<\/p>\n![\"\"\/](\"https:\/\/blockworks-co.imgix.net\/wp-content\/uploads\/2025\/10\/image-25.png?w=1024&h=1024\")
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