1. Constituent Review – ixCrypto Index Series
1.1 ixCrypto Index
The number of constituents cryptos will decrease to 23 constituents with 2 additions and 4 deletions.
Additions
- Toncoin
- Internet Computer
Deletions
- Monero
- Hedera
- Lido DAO
- VeChain
After the change, the free float adjusted market capitalization coverage is 80.94%*, while the 90-day-average volume is 73.25%* (excluding stable coin which has 6.48% market capitalization coverage). The constituents change above and recapping at 40% will be effective on 19 April 2024 (Friday).
Since the last review, there has been an increase in the crypto total market capitalization from USD1.37tn to USD2.03tn (+48.05%)#, and an increase in the daily volume from USD52bn to USD89bn(+70.97%)#. Bitcoin remains as the largest crypto in the constituent list, with its price has gone up by 65.20% since the last review.
1.2 ixCrypto Portfolio Indexes
There’s no constituent change to ixCrypto 5 EW Index (“IXEW5”) and ixCrypto 5 SR Index (“IXSR5”).
Addition
No addition
Deletion
No deletion
The following constituent changes will be made to ixCrypto 10 EW Index (“IXEW10”) and ixCrypto 10 SR Index (“IXSR10”).
Addition
- Polkadot
Deletion
- Polygon
There’s no constituent change to ixCrypto Altcoin 10 EW Index (“IXAEW5”) and ixCrypto Altcoin 10 SR Index (“IXASR10”).
Addition
No addition
Deletion
No deletion
1.3 ixCrypto Stablecoin Index
The number of constituent cryptos will decrease to 3 with no additions and 2 deletions. Stablecoin comprises 6.64% of the total crypto universe, and ixCrypto Stablecoin Index covers around 97.48% of the 90-day average market capitalization in stablecoin universe.
Addition
No addition
Deletions
1. True USD
2. BUSD
2. Exchange Review
As a result of exchange review, the selected 10 exchanges to generate each of the fair average prices for the constituents are as follows:
Selected Exchanges
- Binance
- Upbit
- Bitrue
- DigiFinex
- Coinbase Exchange
- Huobi Global
- OKX
- P2PB2B (New)
- Gate.io (New)
- BitMart
For more details about our exchange selection criteria, please email info@ix-index.com
More details about the ixCrypto index, including their constituents, constituents’ weight are provided in the Appendices, or refer to the website https://ix-index.com/
*Exclude stable coins and exchange coins (based on conflict of interest rule methodology effective Oct 2, 2020)
#As of 31 March 2024, based on past 90 days average
Appendix 1
ixCrypto Index (“IXCI”)
Universe | All crypto coins traded in at least two different exchanges around the world |
Selection Criteria | Cryptocurrencies ranking in the top 80% of cumulative full market capitalization (“MC”) coverage and within an acceptable range in accordance with the Volume Buffer Rule in terms of 90-day average trading volume |
Number of Constituents | Variable/23 in Q1 2024 |
Launch Date | 12th December 2018 |
Base Date | 3rd December 2018 |
Base Value | 1,000 |
Reconstitution Rule | If the coverage is below 75% or any of constituents is not within an acceptable range in accordance with the Volume Buffer Rule in terms of 90-day average trading volume, IXCI will be reconstituted to bring MC coverage back and do liquidity screening. |
Reconstitution and Rebalancing Frequency | Quarterly and with a fast entry rule |
Weighting Methodology | Free float adjusted market capitalization weighted with a cap of 40% |
Currency | US Dollar |
Dissemination | Every 5 seconds for 24×7 |
Website | https://ix-index.com/ |
Appendix 2
Weightings of the Constituents of ixCrypto Index
Crypto | 90-day-average- Market Cap | 90-day-average-volume * | Cut-off Price | Cumulative Market Coverage before Cap | Weighting (%) After 40% Cap# | |
1 | Bitcoin | $1,369,892,136,469 | $17,130,241,883 | $69,645.31 | 51.63% | 40.00% |
2 | Ethereum | $421,201,618,786 | $9,389,066,783 | $3,507.94 | 68.87% | 33.16% |
3 | Solana | $86,381,585,800 | $2,999,311,846 | $194.39 | 71.52% | 6.80% |
4 | XRP | $34,165,159,479 | $1,042,947,263 | $0.62 | 73.07% | 2.69% |
5 | Cardano | $22,931,580,978 | $401,576,882 | $0.64 | 74.11% | 1.81% |
6 | Dogecoin | $28,652,694,245 | $2,403,795,719 | $0.20 | 74.90% | 2.26% |
7 | Avalanche | $20,003,992,981 | $370,817,943 | $53.00 | 75.65% | 1.58% |
8 | TRON | $10,756,642,376 | $236,560,785 | $0.12 | 76.18% | 0.85% |
9 | Polkadot | $13,470,870,728 | $173,787,689 | $9.43 | 76.71% | 1.06% |
10 | Chainlink | $11,121,452,631 | $299,629,003 | $18.94 | 77.22% | 0.88% |
11 | Shiba Inu | $17,597,376,638 | $712,109,187 | $0.00 | 77.69% | 1.39% |
12 | Toncoin | $18,244,778,890 | $178,324,742 | $5.26 | 78.15% | 1.44% |
13 | Polygon | $9,713,655,454 | $280,872,821 | $0.98 | 78.60% | 0.76% |
14 | Bitcoin Cash | $11,753,575,672 | $648,865,139 | $597.11 | 78.91% | 0.93% |
15 | Internet Computer | $8,260,958,843 | $240,356,456 | $17.90 | 79.21% | 0.65% |
16 | Litecoin | $7,650,079,353 | $729,886,796 | $102.86 | 79.49% | 0.60% |
17 | Uniswap | $7,554,174,607 | $120,951,795 | $12.62 | 79.76% | 0.59% |
18 | NEAR Protocol | $7,312,370,081 | $267,604,886 | $6.94 | 79.98% | 0.58% |
19 | Cosmos | $4,796,249,922 | $163,542,832 | $12.27 | 80.18% | 0.38% |
20 | Ethereum Classic | $4,817,832,809 | $229,532,049 | $32.93 | 80.38% | 0.38% |
21 | Aptos | $6,606,298,820 | $210,896,475 | $16.63 | 80.58% | 0.52% |
22 | Filecoin | $5,005,364,209 | $289,518,374 | $9.44 | 80.76% | 0.39% |
23 | Stellar | $4,012,959,227 | $91,989,525 | $0.14 | 80.94% | 0.30% |
As of 31 March 2024
* 90-day-average-volume ranking in total market is shown in the parentheses
# Weighting (%) after 40% Cap is adjusted according to the cut-off price, the arrangement of order may not be the same as 90-day-average-Market Cap
Selection of index constituents is based on the past 90-day-average market capitalization and volume.
For the calculation methodology of the index, please refer to the “ixCrypto Index Methodology Paper” on our website.
Appendix 3
Weightings of the Constituents of ixCrypto Portfolio Indexes
Index Constituents | ixCrypto 5 EW Index | ixCrypto 5 SR Index | ixCrypto 10 EW Index | ixCrypto 10 SR Index | ixCrypto Altcoin 10 EW Index | ixCrypto Altcoin 10 SR Index | |
1 | Bitcoin | 20% | 47.78% | 10.00% | 37.93% | – | – |
2 | Ethereum | 20% | 26.49% | 10.00% | 21.03% | 10.00% | 32.23% |
3 | Solana | 20% | 12.00% | 10.00% | 9.53% | 10.00% | 14.60% |
4 | XRP | 20% | 7.55% | 10.00% | 5.99% | 10.00% | 9.18% |
5 | Cardano | 20% | 6.18% | 10.00% | 4.91% | 10.00% | 7.52% |
6 | Dogecoin | – | – | 10.00% | 5.49% | 10.00% | 8.41% |
7 | Avalanche | – | – | 10.00% | 4.58% | 10.00% | 7.02% |
8 | TRON | – | – | 10.00% | 3.36% | 10.00% | 5.15% |
9 | Polkadot | – | – | 10.00% | 3.76% | 10.00% | 5.76% |
10 | Chainlink | – | – | 10.00% | 3.42% | 10.00% | 5.24% |
11 | Polygon | – | – | – | – | 10.00% | 4.89% |
Appendix 4
Weightings of the Constituents of ixCrypto Stablecoin Indexes
Crypto | 90-day-average- Market Cap | 90-day-average- volume | Cut-off Price | Cumulative Market Coverage before Cap | Weighting (%) After 40% Cap | |
1 | Tether USDt | $98,057,424,593 | $64,125,609,077 | $1.00 | 4.83% | 40.00% |
2 | USDC | $28,053,479,547 | $7,215,847,406 | $1.00 | 6.21% | 40.00% |
3 | Dai | $5,347,919,100 | $318,999,728 | $1.00 | 6.48% | 20.00% |
Appendix 5
ixCrypto Indexes Dissemination
Real time indexes are disseminated every 5-second interval for 24×7 since 23 June 2022. The real-time indexes are available for viewing on the IX Crypto Index official webpage. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers “IXCI”, “IXBI” and “IXEI”, with dissemination interval kept at 15-second unchanged.
The vendor tickers are shown below:
Index Name | Bloomberg Ticker | Reuters Ticker |
ixCrypto Index | IXCI | .IXCI |
ixBitcoin Index | IXCBI | .IXBI1 |
ixEthereum Index | IXCEI | .IXEI1 |
For further information about ixCrypto Index and other available indexes including IX Crypto spot price index series, please visit company official webpage https://ix-index.com or subscribe to LinkedIn: IX Asia Indexes
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About IX Asia Indexes and IX Asia Index Advisory Committee
IX Capital International Limited is an award-winning index and investment advisory company. The index business arm- IX Asia Indexes, providing real-time digital asset and innovative indexes, disseminated 24×7 globally and built on robust infrastructure. Since the launch of the first crypto benchmark index (“IXCI”) launched in Hong Kong in December 2018, the ixCrypto index series expand into 27 indexes designed for exchange futures product, mark to market and fund managers’ portfolio construction purposes. To ensure the professionality and impartiality of the index methodologies and operations, IX Asia Indexes has established its index advisory committee with representation from different industries, including fund management, exchanges, brokerage, financial blockchain experts, crypto service providers, etc. The committee will meet quarterly a year to discuss matters relating to the IX Asia Indexes, including to review and to comment the data sources, methodologies, and operations of IX Asia Indexes, to provide guidance to the future development of new IX Asia Indexes and to handle other issues and decisions on an as-needed basis.
IX Asia Indexes was awarded the Fintech Award (wealth investment and management) 2019 and 2021 organised by ETNet. It as well won an award for Startup of the Year and Basic Technology (Big Data) from Hong Kong Fintech Impetus Awards 2022 by Metro Broadcast and KPMG. It also won Asia Pacific Enterprise Achievement Award 2024 by Echolade. IX Asia Indexes completed its IOSCO compliance statement and obtained ISO/IEC 27001:2013 UKAS certification.
Website: https://ix-index.com/
Advisory Committee: https://ix-index.com/committee.htm
About IX Crypto Indexes
The ixCrypto index (“IXCI”) is the first crypto index launched in Hong Kong. It was launched on 12 December 2018. It is denominated in USD with a base value of 1000 and a base date on 3 December 2018. Designed to be easy to understand while providing a good representation of the crypto market, ixCrypto index aims to cover the top 80% of the cumulative free-float adjusted market capitalization in the crypto universe and, at the same time, the crypto currencies should fall within the top liquid cryptos ranked by trading volume in the 90 days preceding the review date. The index is to be reviewed quarterly and with a fast entry rule. Real time indexes are disseminated every 5-second for 24×7 since 23 June 2022. Real time index data together with ixBitcoin Index and ixEthereum Index can be obtained from IX Asia Indexes Data Services. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers “IXCI”, “IXBI”, “IXEI”, with dissemination interval kept at 15-second unchanged.