Industry Updates

Solactive expands 'exotic' offering with crypto index

George Geddes

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German index provider Solactive has partnered with cryptocurrency data provider CoinMarketCap (CMC) to launch its Cryptocurrency Benchmark indices.

The CMC Crypto 200 index is comprised of the 200 largest cryptocurrencies by market cap, according to data sourced via CMC's platform. The index is available in the form of two options: with or without the inclusion of crypto giant Bitcoin.

Solactive and CMC recently teamed-up with crypto ETP provider Amun to provide the net asset values and portfolio composition for Amun's Bitcoin, Ethereum and crypto-basket ETPs. Following the partnership with Amun, Solactive said it plans to introduce more "exotic indices" to add to its standard equity and fixed income products.

CMC's platform enables Solactive to access data from more than 200 crypto exchanges from around the world. The 200 coins which comprise the index make up for more than 90% of the global crypto market cap, which is currently worth $120bn, according to Solactive.

Launching a version of the index excluding Bitcoin offers a product which avoids market bias as the crypto giant accounts for over half of the crypto global trading volume. The crypto market as a whole is highly correlated with the price of Bitcoin. When bitcoin drops in value, so does the rest of the market and similarly when the value rises.

Fabian Colin, head of sales at Solactive, commented: "The ability to access CoinMarketCap's data gives us the opportunity to develop custom indices for new clients. Conversations have already started. We are looking forward to developing more crypto indices in the future, which could result in investable indices and might lead to further products."


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