MV Index Solutions (MVIS) and Crescent Crypto Asset Management, an index provider and fund manager for the digital asset space, have launched the Crescent Crypto Market Index (CCMIX).
The index, formerly known as the Crescent 20 Index, is designed to track the performance of a market capitalisation 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 per cent of the total digital asset market capitalisation 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,” says Thomas Kettner (pictured), Managing Director at MVIS.
“We are extremely excited to partner with MVIS to manage the calculation and dissemination of our flagship index,” says 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.”