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iC15

The INDEX OF CRYPTOS (IC15) is a rule-based broad market index by market capitalization, that tracks the performance of widely traded liquid cryptocurrencies in the world. The index enables crypto enthusiasts, investors, and investment managers to monitor the performance of cryptocurrencies in the global markets.

Features of the Index
  • Industry barometer
  • Simple and easy to replicate
  • Transparent and efficient benchmark
  • Lower cost for investment vehicles
  • Designed for robo-investors
Benefits of IC15
  • A true benchmark of the underlying crypto market with a diversified representation of overall market sentiments
  • A performance benchmark
  • Can be accurately replicated for creation of Index linked products like Index funds, ETFs, structured products etc.

Index Construction

Eligibility Criteria

  • Top 400 coins in terms of market capitalization
  • Only cryptocurrencies coins are considered
  • Stable Coins are not eligible

Universe Selection

  • The eligible Index constituent should have traded on at least 90% of trading days during the Review Period
  • The eligible Index constituent should be in the top 100 most liquid cryptocurrencies in terms of Trading Value during the preceding month
  • The eligible Index constituent should also be in the top 50 in terms of the circulating market capitalization during the preceding month

Index Basket Creation

  • Top 15 cryptocurrencies in terms of circulating market capitalization are eligible to be a part of the Index.
  • The Index Committee decides on the final basket of IC15 and may consider mid-term review of the Index basket in exceptional situations.

Circulating Market Capitalization

Circulating market capitalization of each cryptocurrency is calculated by multiplying the Price by the Circulating Supply of each Cryptocurrency.

Constituent Numbers

The number of Index constituents shall be 15 Cryptocurrencies.

Constituent Weightings

All Index constituent's weightage shall be determined based on their Market Capitalization.

Index Calculations

Index Value Calculation (Reconstitution and Rebalancing)

The index value is calculated as follows:

Index Value is equal to the sum total of Circulating Market Capitalization of Index Basket divided with the Index Divisor and then multiplied it with the base value of 10,000.

Index Divisor

On the base date, the divisor is calculated based on the circulating market capitalization of all the Index Constituents. The Index divisor is normalized during every rebalancing period by multiplying it with a normalization factor. The normalization factor is the ratio of sum total of circulating market capitalization of the new Index basket to the sum total of circulating market capitalization of the old Index basket.

Base Value and Base Date

The base value of the Index is set at 10,000 on the base date as 01, April 2018.

Index Rebalancing And Reconstitution

  • Review Period: Quarterly basis. The cut-off date for the review period shall be the fifteenth calendar day of March, June, September, and December
  • Effective date of the Index Reconstitution: The Index Reconstitution (Inclusion and Exclusion of the Index constituents) and Rebalancing (adjustment of the Divisor) shall be implemented on the first Business Day of the calendar months of April, July, October and January

Announcement for the change in Index Basket

The change in the Index Constituents shall be announced five business days prior to the Reconstitution Date.

Currency

The Index value shall be based on the USDT.

Index Precision

The Index value shall be rounded to the nearest two decimal places.

Index Dissemination

The Index shall be publicly available on IC15 page of 3-verse.io, 3.0 verse android & iOS app and other platforms.

Index Committee

The Index Committee comprises of domain experts, industry practitioners, and academicians

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