A New Crypto Index Just Launched. Here's Why That's Bullish for Ethereum, Solana, and Hyperliquid.
2026-07-30 16:30
•Alex Carchidi •The Motley Fool
••• •••• Axe Cap view
Why the New S&P Crypto Index Matters for Ethereum, Solana, and Hyperliquid
The launch of a new revenue-focused crypto index could drive institutional interest and ETF creation for assets like ETH, SOL, and PURR, while excluding low-revenue coins like XRP.
The S&P Pantera Digital Asset Index is a fresh way to measure crypto quality by focusing on real protocol revenue, rather than market hype. Including Ethereum, Solana, and Hyperliquid—each showing meaningful transaction fees—makes the index a credible benchmark for institutional investors who’ve long hesitated on crypto’s wild price swings. This could pave the way for ETFs linked to these tokens, creating more stable inflows. For South African investors, this matters through USD/ZAR, as increased demand for these dollar-based assets tends to strengthen the rand. Conversely, XRP’s absence highlights the risk of backing tokens without real usage or revenue, which can weaken investor confidence. With inflation concerns easing, productive digital assets might appeal to JSE investors seeking new growth beyond traditional sectors. However, if the broader crypto market falls out of favour due to regulation or security issues, these picks could still suffer. this is just our opinion and not financial advice
We’d watch for ETF launches tied to ETH, SOL, and PURR, and consider small, tactical exposure in dollar terms via USD/ZAR hedged positions. Avoid XRP for now given its lack of revenue traction.
- ETHV
- SOLZ
- PURR
- USD/ZAR
- Crypto regulation tightening globally
- Prolonged market volatility hurting institutional appetite
6/10
The S&P Pantera Digital Asset (SPPDA) Index launched on July 21, tracking cryptocurrencies that generate real protocol revenue. Ethereum, Solana, and Hyperliquid were included based on their revenue-generating capabilities, while Bitcoin and XRP were excluded. The index targets institutional investors and could benefit included assets if ETFs are built on the benchmark.
Our take is based on reporting first published by The Motley Fool.