MV Index Solutions (MVIS) and Crescent Crypto Asset Management, a leading index provider and fund manager for the digital asset space, have launched the Crescent Crypto Market Index (ticker: CCMIX). The index, formerly known as the Crescent 20 Index, is designed to track the performance of a market capitalization weighted basket of the largest and most liquid digital assets that have secure cold storage capabilities. Crescent has successfully managed passive cryptocurrency strategies that first launched in 2017. MV Index Solutions (MVIS) assumes the role of index administrator in order to facilitate the calculation and dissemination of the index in real time.
The CCMIX may include up to a maximum of 20 digital assets, and currently has 16 constituents that qualify per the index’s market cap, liquidity, and custody thresholds. Historical backtests show the index has covered over 80% of the total digital asset market capitalization with a future-proof methodology that will continue to represent the asset class.
The CCMIX employs a proprietary trailing 90-day average market cap selection and weighting methodology that reduces turnover and makes the index weightings less subject to short term price action. Unlike other crypto-indices, the CCMIX does not “cap” any weights, as its objective is to accurately represent the investable portion of the total cryptocurrency market.
“We are delighted to announce our partnership with Crescent. We have worked extensively with the Crescent team for the past four months, and we are impressed by the attention to detail within their index methodology. They are truly experts in both index design and digital assets. We are big proponents of a diversified, long-term approach to investment in cryptocurrencies,” said Thomas Kettner, Managing Director at MVIS.
“We are extremely excited to partner with MVIS to manage the calculation and dissemination of our flagship index,” said Christopher Matta, Co-Founder at Crescent. “This will provide market participants real-time access to the most representative index for the cryptocurrency space. Our crypto-specific methodology strengthens the index as a proxy for cryptomarket price movements. We are impressed by MVIS’s capabilities and will continue to work together to launch additional indices.”
Key Index Features
Full Market Capitalisation (bn USD): 98.72 bn USD
Number of Components: 16
Base Date I Base Value: 12/31/2016 I 1000
Note to Editors:
MV Index Solutions (MVIS®) develops, monitors and licenses the MVIS Indices, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. MVIS Indices cover several asset classes, including equity, fixed income markets and digital assets and are licensed to serve as underlying indices for financial products.
Approximately USD 13 billion in assets under management are currently invested in financial products based on MVIS Indices. MVIS is a Van Eck company.
Crescent Crypto Asset Management
Crescent Crypto Asset Management is a digital asset index provider that manages a suite of private index funds for US and offshore investors. The Crescent Crypto Market Index (‘CCMIX’) is owned by Crescent Crypto Asset Management. The 3 founders are Goldman Sachs alumni and have additional experience in venture capital and trading. Crescent reserves the right to update the rules in this index guide at any time.
The MVIS© indices are protected through various intellectual property rights and unfair competition and misappropriation laws. In particular, Van Eck Associates Corporation has registered the ‘MVIS’ trademark. You require a license to launch any product whose performance is linked to the value of a particular MVIS© index and for all use of the MVIS© name or name of the MVIS© index in the marketing of the product.
Investments into crypto currencies and/or digital assets are subject to material and high risk including the risk of total loss. The calculated prices may not be achieved by investors as the calculated price is based on prices from different trading platforms. Furthermore, an investment into crypto currencies and/or digital assets may become illiquid depending on the trading platform or investment product used for the specific investment. Investors should carefully review all risk factors disclosed by the relevant trading platform or in the product documents of relevant investment products.