Why the New S&P Dow Jones Crypto Index May Exclude Bitcoin

Bloomberg Intelligence analyst Dushyant Shahrawat says the distinction lies in how different crypto assets generate value.
Platforms such as Ethereum, Tron, BNB Chain, and Cardano support applications and commercial activity, allowing investors to evaluate them more like underlying technology ecosystems.
Bitcoin, by contrast, does not function as a development platform in the same way—making it fundamentally different from the assets the index is designed to include.