Beyond Bitcoin – The Manager Perspective: Why Digital Asset Benchmarking Is Entering a New Era

S&P Global

Sherifa Issifu

Article

6 Pages

S&P Dow Jones Indices argues digital asset managers need benchmarks that match their actual opportunity set, not default Bitcoin or S&P 500 comparisons. More than 60% of surveyed managers said benchmark fit is their biggest challenge, as crypto strategies now span Bitcoin, Ethereum, altcoins, stablecoins, tokenization, and prediction markets.

Key Takeaways

Benchmark Fit Matters: More than 60% of surveyed managers said finding a benchmark that fits their mandate was their biggest digital asset performance challenge.
Bitcoin Can Distort: S&P Bitcoin Index fell 16.15% YTD through May 29, 2026, while the S&P 500 gained 11.27%, complicating broad comparisons.
Crypto Dispersion Is Huge: In 2025, S&P Bitcoin Index lost 6.26%, while S&P Cryptocurrency BDA Ex-MegaCap Index fell 41.18%, showing benchmark choice matters.
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