The role of benchmark indexes is to describe and measure markets. Providing transparent rules, documented governance, independent oversight and clear procedures under stress requires rigor and discipline. Index providers adopt these disciplines voluntarily, drawing on standards refined over decades in other asset classes.
A new report from the Index Industry Association examines how digital asset indexes are evolving to meet these expectations — and must keep evolving as stablecoins and tokenized assets enter the picture. Transparency is rarely the loudest part of a market, but it tends to be the part that lasts.
Principled Perspectives
One market, not two: CoinDesk’s Dave LaValle on crypto and TradFi converging
The conversation about crypto in client portfolios has shifted in the past six months, and advisors who still think in terms of the old framework risk being caught flat-footed. In a new interview with The Wealth Advisor, Dave LaValle, president of CoinDesk Data & Indices, laid out why.
The clearest signal came from Wall Street. “The Morgan Stanley team launched their bitcoin ETF in early April, and a little bit more than a month in, and they’re over $230 million in assets,” LaValle said. “To amass $230 million in basically a month, it’s kind of insane.”
He framed crypto as a disruptive technology that needs two things to take hold: the tech itself, which exists, and regulatory clarity. The GENIUS Act has set a framework for stablecoins backed by U.S. Treasuries, and the CLARITY Act, addressing market structure, could reach a vote “sometime in the next month or two.”