Dinari, in partnership with Chainlink, announced the tokenization of the S&P Digital Markets 50, a hybrid index introduced by S&P Dow Jones Indices. The tokenization was announced around November 4–5, 2025, aiming to expand institutional and retail access to a combined basket of 15 crypto assets and 35 listed companies related to digital assets. The initiative converts a traditional benchmark into a directly investable on-chain asset with clear implications for managers, product teams, and compliance.
The S&P Digital Markets 50 is a hybrid index that combines 15 relevant cryptocurrencies and 35 U.S. stocks tied to the crypto value chain, according to the announcement from S&P Dow Jones Indices. Dinari will issue “dShares,” tokenized representations of the index backed by on-chain data from Chainlink’s oracle network to reflect real-time benchmark performance.
Chainlink provides feeds and technical services—mentioned as DataLink and a runtime environment for institutional contracts—that aim to ensure the integrity and cryptographic verification of prices and index methodology on-chain. The combination seeks to close the gap between traditional benchmark processes (rebalances, methodology, custody) and the need for reliable data in on-chain applications.
In market terms, an official index brought on-chain enables fractionalization, faster settlements, and greater price traceability. For institutional investors and custodians, the use of institutional oracles may be required to reconcile compliance controls and reporting with blockchain infrastructures.
Context and impact of the tokenization of the S&P Digital Markets 50
The operation raises concrete effects derived solely from the information available about the initiative.
The facilitates fractional access to the index, which may attract both managers seeking diversified exposure and retail investors with on-chain portfolios. While tokenization could increase the index’s intrinsic liquidity if the dShares are actively traded; the quality of the oracles will be key to avoiding valuation deviations.
On-chain validation of prices reduces certain risks of data manipulation, but requires KYC/AML processes and custody aligned with regulators. While reliance on institutional oracle services underscores the importance of SLAs and audits for the integration of traditional benchmarks into blockchains.
As a verified upcoming milestone, the alliance communicated the issuance of the dShares after integrating Chainlink’s feeds; the go-live and trading availability of those tokens will be the operational signals that mark the true beginning of their use by investors and custodians.
