The CoinDesk Large Cap Index (DLCX) is designed to track an investable basket of large-cap digital assets via a market cap-weighted benchmark index. The index targets a minimum of 70% coverage of the digital asset market capitalization, through a rules-based index construction process. The DLCX is one of a portfolio of single- and multi-asset indexes offered by CoinDesk.*

Index licensing

To inquire about real-time feeds, historical data and benchmark licensing options for the CoinDesk Large Cap Index (DLCX), other CoinDesk Indexes products and custom index development, contact us via or the form below.

DLCX overview

DLCX is a composite benchmark index based on CoinDesk’s single-currency indexes for:

DLCX constitution and weighting processes were created by Grayscale Investments and are calculated by TradeBlock, a CoinDesk subsidiary. DLCX constituent weights are calculated based on the latest dollar-denominated value of each constituent and its corresponding circulating token supply. Index constitution is reviewed on a quarterly basis for potential rebalancing, including: additions, removals and updates to circulating supply figures.

Circulating supply

The circulating token supply includes all tokens generated from a network’s transactions, block rewards and, when applicable, uncle rewards and/or scheduled supply adjustments. The circulating token supply for each constituent is updated at the end of every calendar quarter and upon completion of a quarterly review period is incorporated into the DLCX market cap-weighting.

Market-cap weighting

The market cap-weighting for each constituent is calculated by multiplying the circulating token supply for each constituent by its end-of-day price at 4 p.m. New York time each day, as reflected by the 24-hour VWAP of the corresponding CoinDesk Index, and then determining the percentage share of each, relative to the aggregate market cap of all constituents. The market capitalization for each currency is then used as the weighting for the subsequent 24-hour DLCX calculations. This process is repeated every 24-hour period to provide daily updated weightings.

CoinDesk Indexes

CoinDesk Indexes are the industry standard for institutional single- and multi-asset benchmarks for crypto assets. The flagship CoinDesk Bitcoin Price Index (XBX) has been in operation continuously since 2014. Financial institutions rely on the XBX and other CoinDesk Indexes products to benchmark billions of dollars in assets under management and to price millions in over-the-counter transactions, daily.

Single-asset index values are algorithmically calculated once every second based on observed trading activity on leading exchanges. The indexes are designed as reference rates to track liquidity while also adjusting for deviations caused by anomalies and manipulation attempts at individual exchanges. The precise formula underlying the single-asset indexes is proprietary.

Live data

For live prices and updates, visit TradeBlock, our index calculation agent subsidiary.

* These indexes are products for financial institutions, and are separate from the prices that CoinDesk publishes on