Results of the ixCrypto Index Series Quarterly Review (2023 Q3)
- Written by Daily Sun
Results of the constituent review and exchange review as follows:
1. Constituent Review
1.1. ixCrypto Index
The number of constituents cryptos will change to 28 constituents with 1 addition and 3 deletions:
Addition
- Toncoin
Deletions
- ApeCoin
- Internet Computer
- Algorand
After the change, the free float adjusted market capitalization coverage is 79.26%*, while the 90-day-average volume coverage is 79.78%*. The changes to the constituents will be effective on Oct 20, 2023 (Friday).
1.2. ixCrypto Portfolio Indexes
There were no changes to the following indexes:
- ixCrypto 5 EW Index ("IXEW5")
- ixCrypto 5 SR Index ("IXSR5")
- ixCrypto 10 EW Index ("IXEW10")
- ixCrypto 10 SR Index ("IXSR10")
There was one addition and one deletion to the following indexes:
- ixCrypto Altcoin 10 EW Index ("IXAEW10")
- ixCrypto Altcoin 10 SR Index ("IXASR10").
Addition
- Toncoin
Deletion
- Shiba Inu
Since the last review, there has been a decrease in the crypto total market capitalisation from USD1.16tn to USD1.08tn (-6.90%), and a rise in the daily volume from USD36bn to USD43bn (+19.44%). Bitcoin remains as the largest crypto in the constituent list, with its price dropping 11.61% since the last review.
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:
10 Selected Exchanges^
- Binance
- BitForex
- Upbit
- Bitrue
- Hotcoin Global
- DigiFinex (New)
- Coinbase Exchange
- OKX
- Bybit (New)
- Bitmart (New)
The following exchanges were removed: LBank, MEXC, Gate.io.
For more details about our exchange selection criteria, please email
info@ix-index.com
For more comprehensive information about the IXCI and ixCrypto Portfolio Indexes, including details about the constituents and their weights, please refer to the Appendices, or refer to the website https://ix-index.com/ for further information.
* Exclude stable coins and exchange coins (based on conflict of interest rule methodology effective Oct 2, 2020).
^The exchanges are arranged in descending order based on their average trading volume over the past 90 days.
| 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 (28 in Q3 2023) |
| 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 |
| Currency | US Dollar |
| Weighting Methodology | Free float adjusted market capitalization weighted with a cap of 40% |
| Dissemination | Every 5 seconds for 7x24 |
| Website | https://ix-index.com/ |
Appendix 2
| | Crypto | 90-day-average-volume * | 90-day-average- Market Cap | Cumulative Market Coverage before Cap | Weighting (%) After 40% Cap# |
| 1 | Bitcoin | $12,701,868,809 | $546,289,809,230 | 48.73% | 40.00% |
| 2 | Ethereum | $5,252,942,546 | $211,355,671,805 | 67.58% | 37.09% |
| 3 | XRP | $1,362,949,458 | $30,436,472,145 | 70.30% | 5.14% |
| 4 | Cardano | $200,920,040 | $9,764,591,270 | 71.17% | 1.62% |
| 5 | Dogecoin | $329,480,217 | $9,487,844,348 | 72.01% | 1.62% |
| 6 | Solana | $408,785,348 | $8,874,448,344 | 72.81% | 1.55% |
| 7 | TRON | $179,993,097 | $7,097,509,103 | 73.44% | 1.47% |
| 8 | Polygon | $264,772,059 | $5,844,218,660 | 73.96% | 0.90% |
| 9 | Polkadot | $105,516,635 | $5,745,409,004 | 74.47% | 0.93% |
| 10 | Litecoin | $443,297,118 | $5,741,022,829 | 74.99% | 0.89% |
| 11 | Toncoin | $28,054,270 | $5,459,289,016 | 75.47% | 1.38% |
| 12 | Shiba Inu | $162,902,900 | $4,741,215,777 | 75.90% | 0.80% |
| 13 | Bitcoin Cash | $313,034,449 | $4,401,144,325 | 76.29% | 0.85% |
| 14 | Avalanche | $120,723,006 | $3,985,369,302 | 76.64% | 0.60% |
| 15 | Chainlink | $221,646,943 | $3,670,781,435 | 76.97% | 0.82% |
| 16 | Stellar | $145,965,194 | $3,478,665,293 | 77.28% | 0.58% |
| 17 | Uniswap | $81,715,273 | $2,994,053,027 | 77.55% | 0.47% |
| 18 | Cosmos | $75,472,816 | $2,835,372,310 | 77.80% | 0.48% |
| 19 | Monero | $68,862,478 | $2,807,159,563 | 78.05% | 0.50% |
| 20 | Ethereum Classic | $108,081,630 | $2,426,942,886 | 78.27% | 0.42% |
| 21 | Hedera | $69,505,725 | $1,742,383,914 | 78.42% | 0.31% |
| 22 | Filecoin | $105,575,652 | $1,678,739,678 | 78.57% | 0.28% |
| 23 | Lido DAO | $48,404,084 | $1,556,893,884 | 78.71% | 0.27% |
| 24 | Aptos | $114,737,696 | $1,412,075,633 | 78.84% | 0.24% |
| 25 | Arbitrum | $154,323,218 | $1,318,329,409 | 78.96% | 0.21% |
| 26 | VeChain | $31,835,952 | $1,275,959,117 | 79.07% | 0.23% |
| 27 | NEAR Protocol | $49,018,734 | $1,187,532,442 | 79.18% | 0.20% |
| 28 | The Graph | $36,181,306 | $920,878,199 | 79.26% | 0.15% |
As of 30 September 2023
* 90-day-average-volume ranking in total market
# Weighting (%) after 40% Cap is calculated based on the market capitalization of the index constituents on cut-off date, 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
| | 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% | 47.46% | 10.00% | 37.78% | - | - |
| 2 | Ethereum | 20% | 29.34% | 10.00% | 23.36% | 10.00% | 35.01% |
| 3 | XRP | 20% | 10.93% | 10.00% | 8.70% | 10.00% | 13.04% |
| 4 | Cardano | 20% | 6.13% | 10.00% | 4.88% | 10.00% | 7.32% |
| 5 | Dogecoin | 20% | 6.14% | 10.00% | 4.89% | 10.00% | 7.33% |
| 6 | Solana | - | - | 10.00% | 4.77% | 10.00% | 7.16% |
| 7 | TRON | - | - | 10.00% | 4.65% | 10.00% | 6.97% |
| 8 | Polygon | - | - | 10.00% | 3.65% | 10.00% | 5.47% |
| 9 | Polkadot | - | - | 10.00% | 3.69% | 10.00% | 5.53% |
| 10 | Litecoin | - | - | 10.00% | 3.63% | 10.00% | 5.44% |
| 11 | Toncoin# | - | - | - | - | 10.00% | 6.73% |
As of 30 September 2023
# Newly Added Constituent for this Quarter (2023 Q2)
Appendix 4
Real time indexes are disseminated every 5-second interval for 7x24 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.
For data licensing and product, please contact us at licensing@ix-index.com.
For free API use on academic research or trial, please contact enquiry@ix-index.com
Hashtag: #ixCrypto
The issuer is solely responsible for the content of this announcement.
About IX Asia Indexes and IX Index Advisory Committee
IX Capital International Limited is an award-winning index and investment advisory company. The index business arm – IX Asia Indexes, provides real-time digital asset and innovative indexes, disseminated 7x24 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, including 2 single cryptocurrency indexes (designed for exchange futures product), 16 spot price indexes, 6 portfolio indexes (equal weighted and square root weighted), 1 stablecoin index, and 1 infrastructure index. 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.
Website: https://ix-index.com/
Advisory Committee: https://ix-index.com/committee.html
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 7X24 since 23 June 2022. Real time index data together with ixBitcoin Index and ixEthereum Index can be obtained from IX Capital International Data Services. 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.