Litecoin (LTC) re-enters the Bitwise 10 Large Cap Crypto Index and the Bitwise 10 ex Bitcoin Large Cap Crypto Index
Bitwise Index Services, the indexing subsidiary of Bitwise Asset Management, today announced the results of the monthly reconstitution of the Bitwise Crypto Indexes, which took place on October 31, 2022, at 4 p.m. ET.
There was one change to the constituents of the Bitwise 10 Large Cap Crypto Index as a result of the October 31, 2022 reconstitution: Litecoin (LTC) re-entered the index, replacing Chainlink (LINK). As of October 31, 2022, at 4 p.m. ET, the Bitwise 10 Large Cap Crypto Index held the following constituents: 61.11% Bitcoin (BTC), 29.46% Ethereum (ETH), 2.21% Cardano (ADA), 1.83% Solana (SOL), 1.23% Polygon (MATIC), 1.21% Polkadot (DOT), 0.88% Avalanche (AVAX), 0.81% Uniswap (UNI), 0.65% Cosmos (ATOM), and 0.61% Litecoin (LTC).
There were no changes to the constituents of the Bitwise Decentralized Finance Crypto Index as a result of the October 31, 2022 reconstitution. As of October 31, 2022, at 4 p.m. ET, the Bitwise Decentralized Finance Crypto Index held the following constituents: 53.49% Uniswap (UNI), 12.12% Aave (AAVE), 8.37% Maker (MKR), 4.87% Lido DAO (LDO), 4.81% Curve DAO Token (CRV), 3.88% Convex Finance (CVX), 3.73% Compound (COMP), 3.50% Loopring (LRC), 3.05% Yearn Finance (YFI), and 2.20% 0x (ZRX).
There was one change to the constituents of the Bitwise 10 ex Bitcoin Large Cap Crypto Index as a result of the October 31, 2022 reconstitution: Litecoin (LTC) re-entered the index, replacing Chainlink (LINK). As of October 31, 2022, at 4 p.m. ET, the Bitwise 10 ex Bitcoin Large Cap Crypto Index held the following constituents: 75.76% Ethereum (ETH), 5.69% Cardano (ADA), 4.69% Solana (SOL), 3.16% Polygon (MATIC), 3.11% Polkadot (DOT), 2.26% Avalanche (AVAX), 2.09% Uniswap (UNI), 1.67% Cosmos (ATOM), and 1.58% Litecoin (LTC).
The Bitwise Crypto Indexes are reconstituted on a monthly basis according to the rules of the Bitwise Crypto Index Methodology as applied by the Bitwise Crypto Index Committee. Minutes of the October 2022 Bitwise Crypto Index Committee meeting are publicly available here.
The Ball Multicoin Bitwise Metaverse Index reconstitutes in February, May, August, and November, and had no changes as a result of the October 31, 2022 reconstitution. As of October 31, 2022, at 4 p.m. ET, the Ball Multicoin Bitwise Metaverse Index had 27 constituents. The following were the 10 largest constituents of the Ball Multicoin Bitwise Metaverse Index: 9.69% Ethereum (ETH), 9.00% Chainlink (LINK), 8.92% Polygon (MATIC), 7.72% Filecoin (FIL), 7.72% Solana (SOL), 6.60% Binance Coin (BNB), 5.88% Uniswap (UNI), 5.08% Arweave (AR), 4.15% Ethereum Name Service (ENS), and 4.07% Graph Protocol (GRT). The index methodology for the Ball Multicoin Bitwise Metaverse Index is available here.
The Bitwise Crypto Innovators 30 Index of equities reconstitutes quarterly and as a result had no changes as of October 31, 2022. As of October 31, 2022 at 4 p.m. ET, the following were the 10 largest constituents of the Bitwise Crypto Innovators 30 Index: 14.37% MicroStrategy (MSTR), 11.89% Coinbase Global Inc. (COIN), 7.76% Silvergate Capital (SI), 6.51% Hut 8 Mining (HUT CN), 6.07% Marathon Digital Holdings (MARA), 5.48% Riot Blockchain (RIOT), 5.06% Galaxy Digital Holdings (GLXY CN), 4.50% Canaan Inc. (CAN), 4.39% Bakkt Holdings (BKKT), and 3.42% HIVE Blockchain (HIVE CN). The index methodology for the Bitwise Crypto Innovators 30 Index of equities is available here.
The Bitwise Blue-Chip NFT Collections Index reconstitutes quarterly and as a result had no changes as of October 31, 2022. As of October 31, 2022, at 4 p.m. ET, the Bitwise Blue-Chip NFT Collections Index held the following constituents: 30.05% Bored Ape Yacht Club, 28.66% CryptoPunks, 10.97% Mutant Ape Yacht Club, 6.67% CloneX, 6.51% Chromie Squiggle, 5.18% Azuki, 3.66% Moonbirds, 2.87% Doodles, 2.72% Meebits, and 2.71% VeeFriends. The index methodology for the Bitwise Blue-Chip NFT Collections Index is available here.
About Bitwise Asset Management
Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers. As of year-end 2021, Bitwise managed over $1.3 billion across an expanding suite of investment solutions. The firm is known for managing the world’s largest crypto index fund (OTCQX: BITW) and pioneering products spanning Bitcoin, Ethereum, DeFi and crypto-focused equity indexes. Bitwise focuses on partnering with financial advisors and investment professionals to provide quality education and research. The team at Bitwise combines expertise in technology with decades of experience in traditional asset management and indexing, coming from firms including BlackRock, Blackstone, Facebook and Google, as well as the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg and The Wall Street Journal.
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NFTs are an extremely new artistic and cultural phenomenon, and interest in such artwork could wane. If the demand for NFT artwork diminishes, the prices of NFT items could be negatively affected. The market for NFTs can be subject to shallow trade volume, extreme hoarding, low liquidity and high bankruptcy risk. NFTs are also subject to risks and challenges associated with intellectual property rights and fraud.
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Frank Taylor/Ryan Dicovitsky
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