CoinDesk 20 Index (CD20)

Overview

0.00
0.00%

24H return

Historical Rates & Volumes

Constituent Weights

BitcoinEthereumSolanaXRPCardanoAvalancheDogecoinChainlinkPolygonPolkadotUniswapSHIBA INUInternet ComputerBitcoin CashLitecoinCosmosEthereum ClassicFilecoinStellarAptos33%24%
  • Bitcoin: 33%

  • Ethereum: 24%

  • Solana: 10%

  • XRP: 6%

  • Cardano: 5%

  • Avalanche: 3%

  • Dogecoin: 3%

  • Chainlink: 2%

  • Polygon: 2%

  • Polkadot: 2%

  • Uniswap: 2%

  • SHIBA INU: 1%

  • Internet Computer: 1%

  • Bitcoin Cash: 1%

  • Litecoin: 1%

  • Cosmos: 1%

  • Ethereum Classic: 1%

  • Filecoin: 1%

  • Stellar: 1%

  • Aptos: 1%

The CoinDesk 20 Index (CD20) measures the performance of top digital assets. Characteristics include:

  • Designed for implementation at scale with liquidity and exchange-listing requirements
  • Market capitalization weighted with a 30% cap on the largest constituent (currently bitcoin) and a 20% cap on all other members (currently capping ether)
  • Excludes stablecoins
  • Calculated and published once every five seconds
  • Built using the CoinDesk Indices’ Digital Asset Classification Standard (DACS) and drawn from the CoinDesk Market Index (CMI) universe
  • Complete details available in the CoinDesk 20 Index Methodology

    As the new digital asset class emerges, market participants and observers will need a new reference index to measure performance, invest, and trade. The CoinDesk 20 Index has been designed with liquidity, diversification benefits, and implementation in mind. This index is the reference for crypto and the new building block for investment products.

For updated information on our index announcements, methodologies, index policies, index catalogues, reconstitution calendars and consultations, please visit our Governance page.

Q&A

What is the CoinDesk 20 Index?

The CoinDesk 20 Index (CD20) measures the performance of top digital assets. Characteristics include:

  • Designed for implementation at scale with liquidity and exchange-listing requirements • Market capitalization weighted with a 30% cap on the largest constituent (currently bitcoin) and a 20% cap on all other members (currently capping ether)
  • Excludes stablecoins • Calculated and published once every five seconds
  • Captures over 90% of the digital asset market as of 12/31/2023 (the digital asset market is represented by the CoinDesk Market Index which excludes stablecoins)
  • Built using the CoinDesk Indices’ Digital Asset Classification Standard (DACS) and drawn from the CoinDesk Market Index (CMI) universe • Complete details available in the CoinDesk 20 Index Methodology

When did the CoinDesk 20 Index launch?

The CoinDesk 20 Index launched on January 12, 2024 with a base date of October 4, 2022.

Why did CoinDesk Indices create the CoinDesk 20 Index?

As the new digital asset class emerges, market participants and observers will need a new reference index to measure performance, invest, and trade. The CoinDesk 20 Index has been designed with liquidity, diversification benefits, and implementation in mind. This index is the reference for crypto and the new building block for investment products. What’s different about the CoinDesk 20 Index? The CoinDesk 20 Index is built for trading. The weighting caps promote diversification across all constituents, a feature investors can appreciate. CoinDesk Indices constructed the CoinDesk 20 to be the liquid, investable “unit of exposure” to the digital asset class.

How does the CoinDesk 20 Index fit into CoinDesk Indices’ product line?

CoinDesk Indices has the longest digital asset index track record and powers the world’s largest digital asset products. We serve class-leading asset managers, ETP issuers, exchanges, market-makers, custodians, and service providers. Our products include singletoken price references, multi-token broad-market and sector products, and systematic strategies. Our team has experience in traditional finance indexing, financial markets, derivatives, and, of course, crypto. The CoinDesk 20 index is built on our market-leading DACS taxonomy and is drawn from our broad CoinDesk Market Index, and is aimed at what the market needs for the next chapter: a reference and benchmark index of the top digital assets, designed for implementation at scale.

Why did we decide to include memecoins in the index?

We believe that certain memecoins have proven utility. The memecoins in the index are of sufficient market cap and have achieved a level of adoption over a period of years as a currency and meet all other index inclusion criteria.

How often will the index be reconstituted and rebalanced?

The index is reconstituted and rebalanced quarterly based on a published schedule. 

With the spot bitcoin ETF approval, why did we limit the bitcoin weighting? Shouldn’t bitcoin have a greater weighting?

Once bitcoin becomes more traditionally accessible, we believe many investors will turn their attention from just bitcoin to seeking more diversified digital asset exposures with a certain balance between established constituents that may otherwise dominate returns with alternative sources that are liquid and robust. Accordingly, the intention behind the CoinDesk 20 is to have a 50/50 portfolio split with 50% bitcoin/ether (30% bitcoin and 20% ether) and then 50% in alts i.e., the other 18 assets.

How does this index potentially benefit individual traders?

The CoinDesk 20 Index is designed to be investable and tradable. We take the largest cap tokens from the CoinDesk Market Index and apply additional criteria, including liquidity analysis to support product implementation at scale.

Index Constituents

CoinDesk 20 Index (CD20)

Search

20 Constituents Total

Symbol

Name

DACS Sector

DACS Industry Group

DACS Industry

Weight

Polygon icon

BTC

Bitcoin

Currency

Transparent

Transparent DeFi Currency

32.99%

ETH

Ethereum

Smart Contract Platform

Layer 1

Layer 1

23.67%

SOL

Solana

Smart Contract Platform

Layer 1

Layer 1

9.89%

XRP

XRP

Currency

BaaS

Payments

6.28%

ADA

Cardano

Smart Contract Platform

Layer 1

Layer 1

4.62%

AVAX

Avalanche

Smart Contract Platform

Layer 1

Layer 1

3.00%

DOGE

Dogecoin

Currency

Transparent

Transparent DeFi Currency

2.65%

LINK

Chainlink

Computing

Oracle

Oracle

2.29%

MATIC

Polygon

Smart Contract Platform

Layer 2

Sidechains

2.14%

DOT

Polkadot

Smart Contract Platform

Layer 0

Layer 0

2.14%

UNI

Uniswap

DeFi

Exchanges

AMM

1.69%

SHIB

SHIBA INU

Currency

Transparent

Transparent DeFi Currency

1.24%

ICP

Internet Computer

Smart Contract Platform

Layer 1

Layer 1

1.23%

BCH

Bitcoin Cash

Currency

Transparent

Transparent DeFi Currency

1.13%

LTC

Litecoin

Currency

Transparent

Transparent DeFi Currency

1.12%

ATOM

Cosmos

Smart Contract Platform

Layer 0

Layer 0

0.89%

ETC

Ethereum Classic

Smart Contract Platform

Layer 1

Layer 1

0.85%

FIL

Filecoin

Computing

Shared Storage

Shared Storage

0.82%

XLM

Stellar

Currency

BaaS

Payments

0.70%

APT

Aptos

Smart Contract Platform

Layer 1

Layer 1

0.66%

Data as of Feb 26, 2024

Get the data • Created with Datawrapper

Products Linked to CD20

*These indices are products for financial institutions, and are separate from the prices that CoinDesk publishes on coindesk.com

Documentation

Usage and licensing

If you require access to real time or historic data for this index to power a product or service or are interested in licensing the index for the creation of a financial product, investment fund or derivative instrument please contact licensing@coindesk-indices.com

Relevant Content

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk Indices, Inc. (“CDI”) does not sponsor, endorse, sell, promote, or manage any investment offered by any third party that seeks to provide an investment return based on the performance of any index. CDI is neither an investment adviser nor a commodity trading advisor and makes no representation regarding the advisability of making an investment linked to any CDI index. CDI does not act as a fiduciary. A decision to invest in any asset linked to a CDI index should not be made in reliance on any of the statements set forth in this document or elsewhere by CDI. All content displayed here or otherwise used in connection with any CDI index (the “Content”) is owned by CDI and/or its third-party data providers and licensors, unless stated otherwise by CDI. CDI does not guarantee the accuracy, completeness, timeliness, adequacy, validity, or availability of any of the Content. CDI is not responsible for any errors or omissions, regardless of the cause, in the results obtained from the use of any of the Content. CDI does not assume any obligation to update the Content following publication in any form or format. © 2024 CoinDesk Indices, Inc. All rights reserved.

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