S&P & Kaiko Unite Crypto Benchmarks in 4,000-Index Suite

S&P Dow Jones Indices (S&P DJI) and Kaiko have merged their digital asset benchmarks into a single platform, creating the S&P Kaiko Digital Asset Indices suite. This new suite combines more than 4,000 rates and indices at launch, providing a comprehensive infrastructure for institutional investors.

Kaiko will supply crypto data, calculations, and market connectivity to the platform, while S&P DJI handles benchmark administration and global distribution. The partnership separates their functions according to each company's existing strength: Kaiko calculates and sources crypto-market data, and S&P DJI administers and commercializes the benchmark framework.

The size of the suite is often misunderstood, more than 4,000 rates and indices do not mean the platform tracks 4,000 separate cryptocurrencies. A single digital asset can generate multiple reference rates depending on methodology, quote currency, calculation window, venue selection, or product use. Multi-asset baskets and sector indices add further benchmarks on top of individual-asset rates.

The partnership follows broader work between S&P DJI and Kaiko on bringing conventional benchmarks into blockchain environments. The new suite applies institutional benchmark governance and distribution to crypto-native markets, making it easier for institutions to license different exposures without sourcing each benchmark independently.