According to Eric Balchunas, the new investment strategy aims to track the performance of the largest 500 U.S. companies listed on a U.S. exchange, essentially mirroring the S&P 500 (SPX) with minor tweaks. Balchunas notes that despite potential adjustments, the SPX remains the dominant benchmark for U.S. equities. For crypto traders, changes in major equity indices like the SPX can influence institutional flows into digital assets, as shifts in risk appetite and market benchmarks often ripple into Bitcoin (BTC) and Ethereum (ETH) trading volumes. Source: Eric Balchunas on Twitter, June 17, 2025.