S&P and Lukka hope more reliable pricing data will make it easier for investors to access the new asset class, and reduce some of the risks of the very volatile and speculative market, they said.
"With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks," said Peter Roffman, global head of innovation and strategy at S&P Dow Jones
The move by one of the world's most well-known index providers could help cryptocurrencies become more mainstream investments.
Cryptocurrencies have been around for more than a decade, but have started attracting more interest from large financial companies over the last few years.
The emergence of more mainstream market infrastructure has made the asset class more accessible for institutional investors, with hedge fund managers such as Paul Tudor Jones and Stanley Druckenmiller saying they include bitcoin in their broad investment strategies.
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