Benchmark excellence meets the crypto opportunity.

Must trade on at least 2 Core Exchanges with USD pairs

Core Exchanges meet strict criteria: regulatory licensing, AML/KYC controls, trade surveillance, robust IT infrastructure, and regulatory cooperation

Current Core Exchanges: Coinbase, Kraken, Bitstamp, Gemini, itBit, LMAX Digital

Must be supported by at least 1 Core Custodian

Core Custodians provide: regulatory licensing, segregated accounts, multi-signature security, insurance coverage, third-party audits

Current Core Custodians: Coinbase, BitGo, Fidelity, Gemini, Zodia, Komainu

Median daily trading volume must exceed 0.5% of the highest-volume eligible asset

Measured across all Core Exchanges during the 30 days following previous reconstitution

Ensures sufficient market depth for institutional-scale trading

The asset must meet at least one of the following criteria: 

(i) be traded on a market that is a member of the Intermarket Surveillance Group (ISG);

(ii) be the underlying asset of a futures contract listed on a designated contract market regulated in the U.S. for at least six months; or

(iii) (only at the initial inclusion) be the underlying asset of an ETF with at least 40% of its net assets exposed to the asset, listed on a U.S. stock exchange.

These criteria align the index with Nasdaq standards for Commodity-Based Trust Shares.

Must have market-determined pricing (no stablecoins or pegged assets)

Eliminates assets with centralized price control mechanisms

Ensures true market exposure

After passing all filters, assets must represent at least 0.5% of total eligible market cap

Free-float market cap weighted methodology

Quarterly reconstitution on first business day of March, June, September, December