S&P Dow Jones Indices and Pantera Capital have launched the S&P Pantera Digital Asset Index, an index of 18 digital assets selected based on real revenue generation rather than size or momentum. Its constituents, including Hyperliquid, Solana, and Aave, collectively generated over $3 billion in annualized revenue over the trailing two quarters. The index deliberately excludes meme coins and Bitcoin, requiring consecutive quarters of positive protocol revenue verified by Artemis onchain data. Pantera, which manages over $3 billion in assets, said it is in discussions with asset managers about creating ETFs and other products linked to this index, with no tracking product launched yet.
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