Results of the ixCrypto Index Series Quarterly Review (2025 Q4) IX Digital Asset Industry Index Series Half Yearly Review (2025 2H)
- Written by Media Outreach
1.1 ixCrypto Index ("IXCI") The number of constituents will remain unchanged at 19 with 3 additions and 3 deletions.
Additions
- BNB
- Monero
- Zcash
- Toncoin
- Polkadot
- Uniswap
Since the last review, there has been a decrease in the crypto total market capitalization from USD3.83T to USD3.38T (-11.75%)#, and a decrease in the daily volume from USD163.91B to USD157.69B (-3.79%)#. Bitcoin remains the largest crypto in the constituent list, with its price decreased by 18.41% 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")
Addition
- BNB
- Dogecoin
Additions
- BNB
- Bitcoin Cash
- Sui
- Chainlink
Additions
- BNB
- Bitcoin Cash
- Sui
- Stellar
At the upcoming effective date, IX5050 weightings will remain unchanged at 50%/50%. IXPI weightings will be adjusted to 83.12% and 16.88% for IXBI and IXEI, respectively, reflecting the market capitalization proportions of Bitcoin and Ethereum at the cut-off date.
2. Constituent Review- IX Digital Asset Industry Index Series
2.1 ixCrypto Stablecoin Index The number of constituents will increase from 4 to 6 Stablecoin comprises 8.38% of the total crypto universe, and ixCrypto Stablecoin Index covers around 98.97% of the 90-day average market capitalization in the stablecoin universe.
Additions
- Paypal USD
- World Liberty Financial USD
2.2 ixCrypto Infrastructure Index The number of constituents will decrease from 20 to 19 with 1 addition and 2 deletions.
Additions
- Arbitrum
- GateToken
- Vechain
Passed Exchanges
- Binance
- MEXC
- LBank (NEW)
- Bybit
- Gate.io
- Kucoin (NEW)
- Huobi Global
- Crypto.com
- OKEx
- Coinbase Exchange
- Bitget
- Upbit
For more details about our exchange selection criteria, please email info@ix-index.com. More information on the ixCrypto Indexes, including their constituents and constituents' weights, is provided in the Appendices, or refer to the website https://ix-index.com/.
*Exclude stable coins and exchange coins that trigger conflict of interest (based on conflict-of-interest rule methodology 3.9, effective on Oct 2, 2020) #As of 31st December 2025, based on the past 90 days average XXXX (NEW)Newly introduced exchanges as of 2025 Q4
Appendix 1
| 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 | 19 in Q4 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/ |
| Crypto |
90-day-average-
Market Cap |
90-day-average-
Volume |
Cut-off
Price |
Cumulative
Market Coverage |
Weighting (%) After 40% Cap# | |
| 1 | Bitcoin | $1,989,284,098,818 | $63,657,225,640 | $88,430.14 | 58.89% | 40.00% |
| 2 | Ethereum | $415,231,257,775 | $33,284,215,403 | $2,971.42 | 71.18% | 26.88% |
| 3 | XRP | $136,413,074,765 | $4,664,704,256 | $1.88 | 75.21% | 8.53% |
| 4 | BNB | $135,843,874,064 | $3,594,573,146 | $860.55 | 79.24% | 8.88% |
| 5 | Solana | $88,201,626,948 | $6,019,801,260 | $124.93 | 81.85% | 5.27% |
| 6 | TRON | $27,987,763,480 | $768,794,987 | $0.29 | 82.68% | 2.03% |
| 7 | Dogecoin | $26,060,743,087 | $2,119,786,157 | $0.12 | 83.45% | 1.55% |
| 8 | Cardano | $19,025,988,100 | $963,071,173 | $0.35 | 84.01% | 0.95% |
| 9 | Hyperliquid | $12,100,123,024 | $459,515,998 | $25.99 | 84.37% | 0.66% |
| 10 | Bitcoin Cash | $10,827,264,073 | $464,109,669 | $595.15 | 84.69% | 0.89% |
| 11 | Chainlink | $10,680,231,005 | $794,751,228 | $12.41 | 85.00% | 0.66% |
| 12 | Stellar | $8,938,708,816 | $230,152,790 | $0.21 | 85.27% | 0.51% |
| 13 | Sui | $7,483,130,662 | $991,745,859 | $1.43 | 85.49% | 0.40% |
| 14 | Avalanche | $7,310,744,864 | $551,428,569 | $12.56 | 85.71% | 0.40% |
| 15 | Litecoin | $6,987,901,448 | $743,485,394 | $78.76 | 85.91% | 0.45% |
| 16 | Monero | $6,902,908,361 | $183,543,268 | $438.67 | 86.12% | 0.61% |
| 17 | Hedera | $6,668,837,860 | $269,894,606 | $0.11 | 86.32% | 0.36% |
| 18 | Zcash | $6,549,882,643 | $1,212,003,644 | $528.45 | 86.51% | 0.65% |
| 19 | Shiba Inu | $5,428,032,178 | $165,251,163 | $0.00 | 86.67% | 0.32% |
# 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
| Index Constituent | 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% | 46.23% | 10.00% | 37.99% | - | - |
| 2 | Ethereum | 20.00% | 20.83% | 10.00% | 17.12% | 10.00% | 26.46% |
| 3 | XRP | 20.00% | 11.74% | 10.00% | 9.64% | 10.00% | 14.91% |
| 4 | BNB | 20.00% | 11.98% | 10.00% | 9.84% | 10.00% | 15.21% |
| 5 | Solana | 20.00% | 9.22% | 10.00% | 7.58% | 10.00% | 11.72% |
| 6 | TRON | - | - | 10.00% | 4.71% | 10.00% | 7.27% |
| 7 | Dogecoin | - | - | 10.00% | 4.12% | 10.00% | 6.36% |
| 8 | Cardano | - | - | 10.00% | 3.21% | 10.00% | 4.96% |
| 9 | Hyperliquid | - | - | 10.00% | 2.68% | 10.00% | 4.15% |
| 10 | Bitcoin Cash | - | - | 10.00% | 3.11% | 10.00% | 4.82% |
| 11 | Chainlink | - | - | - | - | 10.00% | 4.14% |
Appendix 4
| Crypto |
90-day-average Crypto
Market Cap |
90-day-average Crypto
Volume |
Index Level | Weight in BTC/ETH 50/50 | Weight in BTC/ETH Proportional |
| Bitcoin | $1,989,284,098,818 | $63,657,225,640 | 21347.98 | 50.00% | 83.12% |
| Ethereum | $415,231,257,775 | $33,284,215,403 | 25514.52 | 50.00% | 16.88% |
Appendix 5
| Crypto | 90-day-average- Market Cap |
90-day-average-
volume |
Cut-off
Price |
Cumulative
Market Coverage |
Weighting (%) After 40% Cap | |
| 1 | Tether USDT | $183,552,503,827 | $124,872,302,744 | $0.9989 | 66.46% | 40.00% |
| 2 | USDC | $76,268,680,935 | $15,196,262,826 | $0.9997 | 26.98% | 40.00% |
| 3 | Ethena USDe | $8,966,457,127 | $264,620,656 | $0.9984 | 2.23% | 6.81% |
| 4 | Dai | $5,364,378,401 | $158,710,775 | $0.9997 | 1.90% | 5.81% |
| 5 | PayPal USD | $3,272,894,735 | $102,279,408 | $0.9995 | 1.26% | 3.83% |
| 6 | World Liberty Financial USD | $2,779,011,080 | $482,782,958 | $0.9992 | 1.17% | 3.55% |
Appendix 6
| Crypto |
90-day-average-
Market Cap |
90-day-average-
volume |
Cut-off
Price |
Cumulative
Market Coverage |
Weighting (%) After 40% Cap# | |
| 1 | Ethereum | $415,231,257,775 | $33,284,215,403 | $2,971.42 | 12.29% | 40.00% |
| 2 | Solana | $88,201,626,948 | $6,019,801,260 | $124.93 | 14.90% | 25.88% |
| 3 | TRON | $27,987,763,480 | $768,794,987 | $0.29 | 15.73% | 9.97% |
| 4 | Cardano | $19,025,988,100 | $963,071,173 | $0.35 | 16.29% | 4.64% |
| 5 | Hyperliquid | $12,100,123,024 | $459,515,998 | $25.99 | 16.65% | 3.24% |
| 6 | Chainlink | $10,680,231,005 | $794,751,228 | $12.41 | 16.97% | 3.23% |
| 7 | Sui | $7,483,130,662 | $991,745,859 | $1.43 | 17.19% | 1.97% |
| 8 | Avalanche | $7,310,744,864 | $551,428,569 | $12.56 | 17.41% | 1.99% |
| 9 | Hedera | $6,668,837,860 | $269,894,606 | $0.11 | 17.60% | 1.76% |
| 10 | Toncoin | $4,774,404,428 | $148,654,256 | $1.62 | 17.74% | 1.47% |
| 11 | Mantle | $4,498,375,025 | $214,742,447 | $0.97 | 17.88% | 1.16% |
| 12 | Polkadot | $4,361,897,490 | $263,725,224 | $1.81 | 18.01% | 1.10% |
| 13 | NEAR Protocol | $2,658,622,509 | $293,031,954 | $1.51 | 18.09% | 0.72% |
| 14 | Ethereum Classic | $2,282,830,048 | $120,244,235 | $11.86 | 18.15% | 0.68% |
| 15 | Internet Computer | $2,155,777,289 | $229,758,159 | $2.83 | 18.22% | 0.57% |
| 16 | Aptos | $2,009,849,397 | $162,937,619 | $1.72 | 18.28% | 0.47% |
| 17 |
Polygon
(prev. MATIC) |
$1,672,121,703 | $116,186,816 | $0.10 | 18.33% | 0.40% |
| 18 | Arbitrum | $1,467,291,089 | $188,742,687 | $0.19 | 18.37% | 0.40% |
| 19 | Cosmos | $1,317,125,662 | $100,431,704 | $1.97 | 18.41% | 0.35% |
# Weighting (%) after 40% Cap is adjusted according to the cut-off price; the arrangement of order may not be the same as the 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 7
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 | NASDAQ | Reuters Ticker | |
| Real-time | Delayed | |||
| ixCrypto Index | IXCI | IXCI2 | .IXCI | .IXCI |
| ixBitcoin Index | IXCBI | IXCBI2 | .IXBI | .IXBI1 |
| ixEthereum Index | IXCEI | IXCEI2 | .IXEI | .IXEI1 |
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