S&P Pantera launched its new Digital Asset (SPPDA) Index on July 21. The index tracks economically productive cryptoassets, defined by their protocol revenue, with a market capitalization above $500 million and two consecutive quarters of positive revenue. Ethereum, Binance Coin, Solana, TRON, and Hyperliquid are among the current top constituents. Bitcoin and XRP were excluded, with Bitcoin's exclusion attributed to its fees flowing to miners rather than holders. The index is aimed at institutional investors, providing a proxy for the performance of productive cryptocurrencies, and analysts suggest its inclusion could signal quality and potentially lead to future capital flows, especially if an ETF tracking the benchmark is launched.