Results of the ixCrypto Index Series Quarterly Review (2025 Q1)

April 11, 2025 - 06:14
Results of the ixCrypto Index Series Quarterly Review (2025 Q1)
HONG KONG SAR - Media OutReach Newswire - 11 April 2025 - Today, IX Asia Indexes announced the 2025 1st quarter review of ixCrypto Index Series. The constituent changes will be effective on 18th April 2025 (Friday) ("the effective date"). The results of the constituent review and exchange review are as follows:
1. Constituent Review – ixCrypto Index Series
1.1 ixCrypto Index ("IXCI")
The number of constituents will decrease to 18 constituents with 1 addition and 2 deletions.
Addition
  1. Hedera
Deletions
  1. Pepe
  2. Near Protocol

After the change, the free float adjusted market capitalization coverage is 83.10%*, while the 90-day-average volume is 74.47%* (excluding stable coin which has 6.65% of the total crypto universe). The constituents change above and recapping at 40% will be effective on 18 April 2025 (Friday).
Since the last review, there has been an increase in the crypto total market capitalization from USD2.89tn to USD3.14tn (+8.65%)#, and a decrease in the daily volume from USD152.20bn to USD122.17bn (-19.73%)#. Bitcoin remains as the largest crypto in the constituent list, with its price has decreased by 11.13% since the last review.
1.2. ixCrypto Portfolio Indexes

1.2.1 ixCrypto 5 Equal Weight Index ("IXEW5") and ixCrypto 5 Square Root Index ("IXSR5")
Additions
No addition
Deletions
No deletion
1.2.2 ixCrypto 10 Equal Weight Index ("IXEW10") and ixCrypto 10 Square Root Index ("IXSR10").
Additions
  1. Chainlink
  2. Stellar
Deletions
  1. Toncoin
  2. Shiba Inu

1.2.3 ixCrypto Altcoin 10 EW Index ("IXAEW10") and ixCrypto Altcoin 10 SR Index ("IXASR10").

Additions
  1. Stellar
  2. Sui
Deletions
  1. Toncoin
  2. Shiba Inu

1.3. ixCrypto BTC/ETH Indexes

As of 31st March 2025, the market capitalization represented by the two indexes IX Bitcoin Index (IXBI) and IX Ethereum Index (IXEI) in ixCrypto BTC/ETH 5050 Index ("IX5050") was 56.20%/43.80% respectively, a change from 43.69%/56.31% from 31st December 2024. The weight of IXBI & IXEI within IX5050 will be adjusted back to approximately 50%/50% respectively (estimated using 31st March 2025 prices), at the effective date.
As of 31st March 2025, the market capitalization represented by the two indexes IXBI and IXEI in ixCrypto BTC/ETH Proportional Index ("IXPI") was 56.20%/43.80% respectively.
The new weight of IXBI and IXEI within the IXPI will be adjusted back to approximately 88.23/11.77% (estimated using 31st March 2025 prices) to restore their relative weight in the cryptocurrencies market at the effective date.
2. Constituent Review- IX Digital Asset Industry Index Series
2.1 ixCrypto Stablecoin Index
The number of constituents will decrease to 4 with no addition and 1 deletion. Stablecoin comprises 6.65% of the total crypto universe, and ixCrypto Stablecoin Index covers around 98.64% of the 90-day average market capitalization in stablecoin universe.
Addition
No addition
Deletion
  1. First Digital USD

2.2 ixCrypto Infrastructure Index
The number of constituents will remain unchanged at 23 with no addition and no deletion.
Additions
No addition
Deletion
No deletion
3. Exchange Review
As a result of exchange review, 8 exchanges passed the review process, which are as follows:
  1. Binance
  2. Bybit
  3. Coinbase Advanced
  4. OKEX
  5. Gate.io
  6. Bitrue
  7. Bitget
  8. Whitebit
Removed Exchanges
  1. Upbit
  2. DigiFinex

The selected 8 exchanges will be taken to generate each of the fair average prices for the IX Aaia indexes' constituents. The exchange review covers volume rankings, exchange background checking, founders' background checking, USD/USDT/USDC/BTC pairs coverage, overconcentration rules, exchange API coverage checking and stability etc for an exchange.
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 31st March 2025, 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/18 in Q1 2025
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 24x7
(On Bloomberg, Reuters and major information vendors)
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
$ 1,853,706,299,098
$ 44,335,293,590
82334.52
59.07%
40.00%
2
Ethereum
$ 324,029,915,475
$ 23,391,114,110
1806.22
69.39%
23.56%
3
XRP
$ 147,586,504,307
$ 7,512,441,885
2.14
74.09%
13.44%
4
Solana
$ 88,521,847,638
$ 5,227,247,283
124.64
76.91%
6.90%
5
Dogecoin
$ 39,041,680,047
$ 2,512,936,991
0.17
78.16%
2.67%
6
Cardano
$ 29,530,840,898
$ 1,400,106,794
0.66
79.10%
2.52%
7
TRON
$ 21,041,656,451
$ 756,877,826
0.23
79.77%
2.38%
8
Chainlink
$ 11,988,550,347
$ 677,353,909
13.39
80.15%
0.95%
9
Avalanche
$ 11,437,915,217
$ 449,968,255
18.86
80.52%
0.85%
10
Stellar
$ 10,666,634,081
$ 502,743,927
0.27
80.86%
0.89%
11
Sui
$ 10,563,860,585
$ 1,259,649,871
2.35
81.19%
0.81%
12
Toncoin
$ 10,373,541,695
$ 206,364,392
3.90
81.52%
1.05%
13
Hedera
$ 9,897,358,921
$ 538,624,996
0.17
81.84%
0.77%
14
Shiba Inu
$ 9,851,176,835
$ 382,240,482
0.00
82.15%
0.79%
15
Polkadot
$ 8,309,611,370
$ 273,561,329
4.04
82.42%
0.68%
16
Litecoin
$ 8,265,200,782
$ 965,042,550
86.00
82.68%
0.70%
17
Bitcoin Cash
$ 7,375,185,883
$ 342,182,940
298.85
82.92%
0.64%
18
Uniswap
$ 5,914,239,713
$ 251,139,351
5.87
83.10%
0.40%
As of 31 March,2025
* 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
20.00%
50.97%
10.00%
41.48%
-
-
2
Ethereum
20.00%
18.62%
10.00%
15.15%
10.00%
24.71%
3
XRP
20.00%
14.06%
10.00%
11.44%
10.00%
18.66%
4
Solana
20.00%
10.08%
10.00%
8.20%
10.00%
13.37%
5
Dogecoin
20.00%
6.27%
10.00%
5.10%
10.00%
8.32%
6
Cardano
-
-
10.00%
4.95%
10.00%
8.08%
7
TRON
-
-
10.00%
4.81%
10.00%
7.85%
8
Chainlink
-
-
10.00%
3.04%
10.00%
4.96%
9
Avalanche
-
-
10.00%
2.88%
10.00%
4.68%
10
Stellar
-
-
10.00%
2.95%
10.00%
4.80%
11
Sui
-
-
-
-
10.00%
4.57%

Appendix 4
Weightings of the Constituents of ixCrypto BTC/ETH 50/50 Index
and ixCrypto BTC/ETH Proportional Index

90-day-average Crypto Market Cap
90-day-average Crypto Volume
Index Level
Cumulative Market Cap Coverage
Weight in BTC/ETH 50/50
Weight in BTC/ETH Proportional
IXBI
$ 1,853,706,299,098
$ 44,335,293,590
19871.37
59.07%
50.00%
88.23%
IXEI
$ 324,029,915,475
$ 23,391,114,110
15484.61
69.39%
50.00%
11.77%

Appendix 5
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
$ 140,886,211,125
$96,063,792,876
$1.00
4.49%
40.00%
2
USDC
$ 54,040,686,289
$9,493,000,348
$1.00
6.21%
40.00%
3
Ethena USDe
$ 5,731,179,447
$102,739,821
$1.00
6.39%
9.89%
4
Dai
$ 5,365,464,578
$ 1,731,621,623
$1.00
6.56%
10.11%
As of 31 March 2025
Appendix 6
ixCrypto Indexes Dissemination
Real time indexes are disseminated every 5-second interval for 24x7 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

Real-time
Delayed

ixCrypto Index
IXCI
IXCI2
.IXCI
ixBitcoin Index
IXCBI
IXCBI2
.IXBI1
ixEthereum Index
IXCEI
IXCEI2
.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
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: #IXAsia #ixCryptoIndex

The issuer is solely responsible for the content of this announcement.

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 24x7 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 29 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:


Advisory Committee:

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 24x7 since 23 June 2022. Real time index data together with ixBitcoin Index and ixEthereum Index can be obtained from IX Asia Indexes Data Services and Bloomberg terminal on IXCI <GO>. 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.

E-paper