- CryptoWire on Monday announced the launch of India’s first cryptocurrencies index- IC15.
- Some of the constituents of the IC15 are Bitcoin, Ethereum, Cardano, Binance Coin, Bitcoin Cash, Litecoin, Chainlink, Polkadot, Dogecoin, Uniswap, Avalanche, Terra and Shia Inu.
- It will act as a performance benchmark for fund managers, facilitate accurate replication of the index, and be the preferred index for creating index-linked products.
CryptoWire on Monday announced the launch of India’s first cryptocurrencies index- IC15, a rule-based broad market index by market capitalisation. This index will track and measure the performance of the top 15 liquid cryptocurrencies that are widely traded and listed on leading crypto exchanges in the world, according to a statement by the company.
CryptoWire a Mumbai based company is a crypto super app on a global level and it is a special business unit of TickerPlant which is a leading content provider in the financial services industry globally.
Over the last few years, cryptocurrencies have emerged as a new asset class and are gaining wider acceptance from people. The IC15 is a fundamental market tracking and assessment tool that would help in decision making and enhance transparency. It captures over 80% of the market movement.
CryptoWire’s Index Governance Committee comprises domain experts, academicians and industry practitioners. It will monitor, maintain and administer the index. This index will be rebalanced every quarter. The base date of this index is April 1, 2018, and its base value is set at 10,000. On January 1, 2022, the IC15 index’s open value stood at 71,463.30 points.
Some of the constituents of the IC15 are Bitcoin, Ethereum, Cardano, Binance Coin, Bitcoin Cash, Litecoin, Chainlink, Polkadot, Dogecoin, Uniswap, Avalanche, Terra and Shia Inu.
“With the launch of India’s first index of crypto IC15, we intend to complete the knowledge circle for the entire crypto and blockchain ecosystem. This will not only push the ‘learn before earn’ initiative but also serve the industry with yet another powerful intervention,” said Jigish Sonagara, MD and CEO, CryptoWire.
“We want all participants to utilise to the fullest, this research-oriented technology-powered opportunity that we present to them for tracking the market. CryptoWire is positioned to emerge as the partner of the industry to spread knowledge, research and information and help participants make informed decisions. IC15 is another step towards this goal,” he added.
The company said that the IC15 index has been designed to provide insights into crypto mining. It will have a diversified representation of the overall market sentiments and will be a true benchmark and mirror of the underlying crypto market.
Cryptowire stated that the index can be followed by those who want a diversified portfolio. It will act as a performance benchmark for fund managers, facilitate accurate replication of the index, and be the preferred index for creating index-linked products such as ETFs, index funds, and more.It will help investors, investment managers and crypto enthusiasts to track the performance of cryptocurrencies in the global markets.
