FTSE Russell has made inroads into the cryptocurrency industry with the launch of its new bitcoin, ethereum and cardano benchmarks.

The FTSE Digital Assets index series is comprised of the FTSE Bitcoin index, FTSE Ethereum index and FTSE Cardano index, which have been created to respond to investor demand for new solutions to accurately track the performance of digital assets, the firm said.

Launched in partnership with Digital Asset Research (DAR), FTSE Russell added the new suite will allow participants to more seamlessly integrate price information about the world’s first, second and fifth largest cryptos into traditional portfolio analysis.

The firm also said mechanisms have been put in place to determine exchange and asset level eligibility, which it said is crucial for reliable price and index data.

Previously, FTSE Russell and DAR partnered on a series of live, ticking indicative digital asset indices as a proof of concept in 2018.

Kristen Mierzwa, managing direct, ETP strategy and business development at FTSE Russell, said: “FTSE Russell’s new digital asset indexes will provide customers with a comprehensive, high quality, data source for their investment analysis and product development needs.”

Another member of the ‘big four’ index providers, S&P Dow Jones Indices (SPDJI), expanded its range of digital assets indices in July, with benchmarks offering exposure to different baskets of cryptocurrencies, including baskets incorporating size factor variables.