Results of the ixCrypto Index Series Quarterly Review (2025 Q2) & IX Digital Asset Industry Index Series Half Yearly Review (2025 1H)
1. Constituent Review – ixCrypto Index Series
1.1. ixCrypto Index ('IXCI')
The number of constituents will increase to 21 with 3 additions and 0 deletions.
Additions
Hyperliquid
Pi
Pepe
Deletions
No deletion
After the change, the free float adjusted market capitalization coverage is 84.28%* (excluding stablecoins, which has 7.29% of the total crypto universe), while the 90-day-average volume is 74.54%*. The constituents change above and recapping at 40% will take effect on the effective date.
Since the last review, there has been a decrease in the crypto total market capitalization from USD3.14T to USD3.09T (-1.59%)#, and a decrease in the daily volume from USD122.17B to USD107.37B (-12.11%)#. Bitcoin remains the largest crypto in the constituent list, with its price increased by 31.64% since the last review.
1.2. ixCrypto Portfolio Indexes
1.2.1 ixCrypto 5 Equal Weight Index ('IXEW5') and ixCrypto 5 Square Root Index ('IXSR5')
Additions
No addition
Deletions
No deletion
1.2.2 ixCrypto 10 Equal Weight Index ('IXEW10') and ixCrypto 10 Square Root Index ('IXSR10').
Additions
Sui
Hyperliquid
Deletions
Avalanche
Stellar
1.2.3 ixCrypto Altcoin 10 EW Index ('IXAEW10') and ixCrypto Altcoin 10 SR Index ('IXASR10').
Additions
Hyperliquid
Deletions
Stellar
1.3. ixCrypto BTC/ETH Indexes
As of the cut-off date on 30th June 2025, the ixCrypto BTC/ETH 50/50 Index ('IX5050') maintains a 50%/50% weighting for the ixBitcoin Index (IXBI) and ixEthereum Index (IXEI). The ixCrypto BTC/ETH Proportional Index ('IXPI') has a weighting of 88.23% and 11.77% for IXBI and IXEI, respectively.
At the upcoming effective date, IX5050 weightings will remain unchanged at 50%/50%. IXPI weightings will be adjusted to 87.71% and 12.29% for IXBI and IXEI, respectively, reflecting the market capitalization proportions of Bitcoin and Ethereum at the cut-off date.
2. Constituent Review- IX Digital Asset Industry Index Series
2.1 ixCrypto Stablecoin Index
The number of constituents will remain at 4. Stablecoin comprises 7.29% of the total crypto universe, and ixCrypto Stablecoin Index covers around 98.50% of the 90-day average market capitalization in the stablecoin universe.
Additions
No addition
Deletions
No deletion
2.2 ixCrypto Infrastructure Index
The number of constituents will decrease to 20 from 23 with 2 additions and 5 deletions.
Additions
Hyperliquid
GateToken
Deletions
Stacks
Arbitrum
Optimism
Fantom
Injective
3. Exchange Review
As a result of exchange review, 8 exchanges passed the review process, which are as follows:
Passed Exchanges
Binance
Bybit
Coinbase Advanced
OKX
Gate.io
MEXC (NEW)
Bitget
Crypto.com (NEW)
Removed Exchanges
Bitrue
WhiteBIT
The selected 8 exchanges will be used to generate each of the fair average prices for the IX indexes' constituents. The exchange review covers volume rankings, exchange background checks, founders' background checks, USD/USDT/USDC/BTC pair coverage, overconcentration rules, exchange API coverage checks, and stability, among other aspects, for an exchange.
For more details about our exchange selection criteria, please email info@ix-index.com. More information on the ixCrypto Indexes, including their constituents and constituents' weights, is provided in the Appendices, or refer to the website https://ix-index.com/.
*Exclude stable coins and exchange coins that trigger conflict of interest (based on conflict-of-interest rule methodology 3.9, effective on Oct 2, 2020)
#As of 30th June 2025, based on the past 90 days average
XXXX (NEW)Newly introduced exchanges as of 2025 Q2
Appendix 1
ixCrypto Index ('IXCI')
As of 30 June 2025
# Weighting (%) after 40% Cap is adjusted according to the cut-off price; the arrangement of order may not be the same as the 90-day-average-Market Cap
Selection of index constituents is based on the past 90-day-average market capitalization and volume.
For the calculation methodology of the index, please refer to the 'ixCrypto Index Methodology Paper' on our website
Appendix 7
ixCrypto Indexes Dissemination
Real time indexes are disseminated every 5-second interval for 24x7 since 23 June 2022. The real-time indexes are available for viewing on the IX Crypto Index official webpage. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers 'IXCI', 'IXBI' and 'IXEI', with dissemination interval kept at 15-second unchanged.
The vendor tickers are shown below:
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