Bitwise Announces Results of March 2023 Month-End Crypto Index Reconstitution
San Francisco • April 3, 2023
Chainlink (LINK) re-enters the Bitwise 10 Large Cap Crypto Index and the Bitwise 10 ex Bitcoin Large Cap Crypto Index; Balancer (BAL) re-enters the Bitwise Decentralized Finance 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 March 31, 2023, at 4 p.m. ET.
The Bitwise 10 Large Cap Crypto Index had the following changes as a result of the March 31, 2023 reconstitution: Chainlink (LINK) re-entered the index and Cosmos (ATOM) exited. As of March 31, 2023 at 4 p.m. ET, the Bitwise 10 Large Cap Crypto Index held the following constituents: 65.95% Bitcoin (BTC), 26.82% Ethereum (ETH), 1.67% Cardano (ADA), 1.21% Polygon (MATIC), 0.97% Solana (SOL), 0.89% Polkadot (DOT), 0.78% Litecoin (LTC), 0.69% Avalanche (AVAX), 0.55% Uniswap (UNI), and 0.47% Chainlink (LINK).
The Bitwise Decentralized Finance Crypto Index had the following changes as a result of the March 31, 2023 reconstitution: Balancer (BAL) re-entered the index and SushiSwap (SUSHI) exited. As of March 31, 2023 at 4 p.m. ET, the Bitwise Decentralized Finance Crypto Index held the following constituents: 42.12% Uniswap (UNI), 19.55% Lido DAO (LDO), 9.47% Aave (AAVE), 6.49% Curve DAO Token (CRV), 6.19% Maker (MKR), 4.41% Loopring (LRC), 3.73% Convex Finance (CVX), 2.87% Compound (COMP), 2.62% Yearn Finance (YFI), and 2.55% Balancer (BAL).
The Bitwise 10 ex Bitcoin Large Cap Crypto Index had the following changes as a result of the March 31, 2023 reconstitution: Chainlink (LINK) re-entered the index and Cosmos (ATOM) exited. As of March 31, 2023 at 4 p.m. ET, the Bitwise 10 ex Bitcoin Large Cap Crypto Index held the following constituents: 78.76% Ethereum (ETH), 4.91% Cardano (ADA), 3.56% Polygon (MATIC), 2.84% Solana (SOL), 2.61% Polkadot (DOT), 2.29% Litecoin (LTC), 2.03% Avalanche (AVAX), 1.61% Uniswap (UNI), and 1.38% Chainlink (LINK).
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 March 2023 Bitwise Crypto Index Committee meeting are publicly available here.
The Ball Multicoin Bitwise Metaverse Index reconstitutes in February, May, August, and November, and as a result had no changes following the March 31, 2023 reconstitution. As of March 31, 2023, at 4 p.m. ET, the Ball Multicoin Bitwise Metaverse Index had 24 constituents. The following were the 10 largest constituents of the Ball Multicoin Bitwise Metaverse Index: 15.67% Ethereum (ETH), 9.23% Solana (SOL), 8.50% Chainlink (LINK), 7.56% The Graph (GRT), 7.26% Binance Coin (BNB), 7.15% Polygon (MATIC), 7.11% Filecoin (FIL), 6.44% Uniswap (UNI), 5.40% Render (RNDR), and 4.11% Avalanche (AVAX). The index methodology for the Ball Multicoin Bitwise Metaverse Index is available here.
The Bitwise Crypto Innovators 30 Index of equities reconstitutes quarterly and had the following changes as a result of the March 31, 2023 reconstitution: Terawulf (WULF) and Mastercard (MA) entered, and CBOE Global Markets (CBOE) exited. As of March 31, 2023 at 4 p.m. ET, the following were the 10 largest constituents of the Bitwise Crypto Innovators 30 Index: 10.31% MicroStrategy (MSTR), 10.09% Galaxy Digital Holdings (GLXY CN), 9.12% Coinbase Global (COIN), 6.17% Riot Platforms (RIOT), 5.42% Northern Data (NB2 GB), 5.35% Marathon Digital (MARA), 4.88% Bakkt Holdings (BKKT), 4.69% HIVE Blockchain Technologies (HIVE CN), 4.53% Hut 8 Mining (HUT CN), and 4.27% Cleanspark (CLSK). The index methodology for the Bitwise Crypto Innovators 30 Index of equities is available here.
The Bitwise Web3 Equities Index reconstitutes quarterly and had the following changes as a result of the March 31, 2023 reconstitution: Bit Digital (BTBT), Bitfarms (BITF), Cipher Mining (CIFR), HIVE Blockchain (HIVE), Iris Energy (IREN) and Terwulf (WULF) entered, and Intel Corporation (INTC) exited. As of March 31, 2023 at 4 p.m. ET, the following were the 10 largest constituents of the Bitwise Web3 Equities Index: 8.51% Facebook Inc. (META), 8.22% Shopify Inc. (SHOP), 8.09% Roblox Corp. (RBLX), 7.60% Equinix Inc. (EQIX), 4.45% Electronic Arts (EA), 4.40% Unity Software (U), 4.33% Akamai Technologies Inc. (AKAM), 4.28% Take-Two Interactive Software (TTWO), 4.19% Cloudflare Inc. (NET) and 4.03% Robinhood Markets Inc. (HOOD). The index methodology for the Bitwise Web3 Equities Index is available here.
The Bitwise Blue-Chip NFT Collections Index reconstitutes quarterly and had no changes as a result of the March 31, 2023 reconstitution. As of March 31, 2023 at 4 p.m. ET, the Bitwise Blue-Chip NFT Collections Index held the following constituents: 32.81% CryptoPunks, 31.78% Bored Ape Yacht Club, 12.46% Mutant Ape Yacht Club, 6.61% Azuki, 4.97% Chromie Squiggle, 3.33% CloneX, 3.03% Meebits, 1.77% Moonbirds, 1.68% Doodles, and 1.57% VeeFriends. The index methodology for the Bitwise Blue-Chip NFT Collections Index is available here.
About Bitwise
Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers, offering both index and active strategies across a wide array of investment vehicles. The firm is known for creating the world’s largest crypto index fund (OTCQX: BITW), a suite of crypto-focused equity and futures ETFs, and investment products that span Bitcoin, Ethereum, DeFi, NFTs, and the Metaverse. 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, Meta, 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.
