MV Index Solutions (MVIS), the indexing division of VanEck, has teamed up with ETF issuer ITI Funds to launch the ITI Funds Crypto Index.
The index aims to provide a diversified approach to investing in the cryptocurrency market.
To be eligible for inclusion, a crypto asset must pass certain structural requirements.
For a coin to be included, there must be an insured cold-storage solution available, they must be traded on the Genesis OTC platform, and be ranked in the top 30 of the MVIS Digital Assets 100 Index.
Additionally, they must not be ‘pegged’ to another currency.
The methodology includes a 15% cap on any constituent to further promote diversification. Reconstitution and rebalancing occur quarterly.
The largest constituents are currently XRP (19.4%), Bitcoin (19.3%), Stellar (16.1%), Litecoin (14.6%), Ethereum (14.3%).
“We are excited to launch this index with ITI Funds,” said Thomas Kettner, Managing Director at MVIS. “Starting with nine digital assets, the index is a dynamic instrument which covers the broader market while at the same time staying within the safest and most recognized names of this new asset class.”
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