CME Group Adds Ethena’s ENA to Crypto Benchmarks

CME's inclusion of ENA in its benchmark indices reflects a broader shift in how institutional infrastructure providers are classifying tokens: not purely by market cap, but by their role in the plumbing of on-chain finance. Ethena's synthetic dollar sits closer to a yield-bearing primitive than a speculative asset, and its presence in a major benchmark could pull attention toward similar protocol tokens that have yet to clear that bar. Whether index inclusion translates into actual institutional participation, or remains a labeling exercise, is the open question worth tracking.