On July 21, the new S&P Pantera Digital Asset (SPPDA) Index launched, and with it, investors everywhere now have a quick reference that tells them which cryptocurrencies are probably worth paying attention to. In short, the index’s inclusion criteria call for only admitting an asset to the index if the protocol backing it earns real revenue. Ethereum (ETH +1.35%), Solana (SOL +2.09%), and Hyperliquid (HYPE +0.00%) all cleared that bar, but Bitcoin and XRP did not.

The SPPDA stands to benefit Solana, Hyperliquid, and Ethereum, not to mention a couple of other coins that it tracks. Here’s why.

Image source: Getty Images.

What goes into the index?

The new index tracks the largest cryptoassets that are economically productive, as…