S&P built the benchmark. We put it on-chain.
S&P Dow Jones Indices, the company behind the S&P 500, launched its first-ever crypto index. It never shipped as something you can hold. S&P·INDEX does.
A new crypto benchmark, minus Bitcoin.
The index holds 18 tokens led by ETH, BNB, SOL, TRX, and Hyperliquid. Bitcoin was deliberately left out. The methodology only counts protocols whose revenue accrues to tokenholders, and by that test BTC does not qualify. S&P published the thesis and the top names, but not the full list or the weights.
“It’s really not one of those revenue generating protocols.”S&P Dow Jones Indices, on excluding Bitcoin
The benchmark, made ownable.
An index you cannot buy is just a chart. Since S&P did not disclose the full list, S&P·INDEX reconstructs it from the public methodology and turns it into a position: a pump.fun token whose creator fees are claimed every cycle and spent buying the basket across six chains. The treasury never sells. It only accumulates.
You don’t just hold, you earn the index. Every cycle, a slice of what the treasury buys is handed straight to holders as the real thing — BNB, ETH, LINK, JUP, and the rest of the basket — plus SOL for the slice that’s cheaper to pay out that way. Add the two together and about 40.5% of every fee the token earns flows back to holders, cycle after cycle. What’s left keeps growing the permanent reserve backing every token. No staking, no lockups — just hold above the threshold and claim whenever you want from your profile. The full construction is in the docs; the live basket is on the treasury.
What S&P does, we track.
Updated as the benchmark evolves.
S&P Dow Jones Indices unveiled a crypto benchmark of 18 tokens led by ETH, BNB, SOL, TRX, and Hyperliquid. Bitcoin was left out: its CEO said BTC is "really not one of those revenue generating protocols." The full constituent list and weights were not published.
CNBC Exclusive / Coin Bureau ↗Since S&P did not disclose the full list, S&P·INDEX reconstructs it from the public methodology and makes it ownable: a pump.fun token whose creator fees buy the basket every cycle and never sell, with 15% of fees flowing back to holders as claimable SOL.
S&P·INDEX →