CCi30 Cryptocurrency Index

The CCi30 is the first independent, rules-based index created to objectively track the performance of the entire cryptocurrency market. By monitoring the 30 largest cryptocurrencies by market capitalization (excluding stablecoins), it provides the most reliable benchmark for investment professionals and a straightforward tool for passive investors seeking broad crypto exposure.

Key Features of the CCi30

To ensure accuracy, fairness, and practicality, the CCi30 is built on five core principles:

  1. Diversification – Broad exposure across top assets
  2. Replicability – Easy to replicate for investment products
  3. Transparency – Clear, rules-based methodology
  4. Full Market Coverage – Represents the entire crypto market
  5. Balanced Risk-Aware Calibration – Mitigates concentration risks

Designed for investors, fund managers, and institutions, the CCi30 serves as the definitive standard for cryptocurrency market performance.

The CCi30 was launched on Jan 1st, 2017. Its starting value is arbitrarily set at 100 on Jan 1st, 2015.

CCi30 Cryptocurrency Index Chart

Index real time 15,955.50
-126.20 -0.79%
52 week change 1.97%
52 week high 26,523.00
52 week low 11533.10
30 Day Market Efficiency Ratio %
Year to date change -24.77%
Month to date change 5.59%
Daily high 15,991.90
Daily low 15,433.80

Index Constituents

# Name Price Market cap Change (day)
1
BTC
Bitcoin 		$92,669.46 $1,860,163,532,475 -1.09%
2
ETH
Ethereum 		$1,766.73 $213,279,939,079 -1.61%
3
XRP
XRP 		$2.20 $128,994,128,306 -0.74%
4
BNB
BNB 		$613.18 $84,452,294,716 1.19%
5
SOL
Solana 		$148.01 $78,446,914,959 -2.12%
6
DOGE
Dogecoin 		$0.18 $26,957,923,808 1.09%
7
ADA
Cardano 		$0.69 $25,740,990,314 -1.68%
8
TRX
TRON 		$0.25 $23,398,768,898 0.49%
9
SUI
Sui 		$2.77 $10,744,247,330 -6.85%
10
LINK
Chainlink 		$9,835,872,460 -4.78%
11
AVAX
Avalanche 		$22.48 $9,268,318,238 0.59%
12
XLM
Stellar 		$0.27 $8,631,295,383 -0.45%
13
LEO
UNUS SED LEO 		$9.06 $8,530,050,803 -0.74%
14
SHIB
Shiba Inu 		$0.00 $7,991,021,520 0.61%
15
TON
Toncoin 		$3.12 $7,972,178,118 -1.91%
# Name Price Market cap Change (24h)
16
HBAR
Hedera 		$0.18 $7,896,194,971 -0.70%
17
BCH
Bitcoin Cash 		$355.30 $6,987,616,317 -0.81%
18
DOT
Polkadot 		$4.04 $6,613,925,672 -1.30%
19
HYPE
Hyperliquid 		$18.72 $6,327,559,591 1.27%
20
LTC
Litecoin 		$84.09 $6,308,934,633 1.04%
21
BGB
Bitget Token 		$4.62 $5,190,181,331 2.51%
22
XMR
Monero 		$226.87 $4,178,886,510 -1.67%
23
UNI
Uniswap 		$5.92 $3,651,768,551 -1.96%
24
PEPE
Pepe 		$0.00 $3,639,371,904 3.30%
25
APT
Aptos 		$5.28 $3,385,992,330 -1.53%
26
OKB
OKB 		$52.41 $3,079,437,902 1.15%
27
NEAR
NEAR Protocol 		$2.44 $3,045,051,521 -1.36%
28
ICP
Internet Computer 		$5.19 $2,746,343,941 0.29%
29
MNT
Mantle 		$0.70 $2,387,026,601 -0.08%
30
OM
MANTRA 		$0.56 $497,848,100 3.95%

About CCi30

Constituents selection

The top 30 cryptocurrencies by adjusted market capitalization are automatically selected and included in the index. All the so called “stable coins”, which are pegged to a fiat currency, are not taken into consideration. To calculate the weights for each cryptocurrency, the adjusted market capitalization must first be calculated. Market capitalization is not computed as some instantaneous number – the volatility in the cryptocurrency market is such that this would destabilize the index composition too much. Instead, the CCi30 uses an exponentially weighted moving average of the market capitalization. The weighted average Market Capitalization helps smooth the volatility to give the most accurate portrait of market capitalization at any given point. For investors who follow cryptocurrency news, this approach provides clear benefits. The formula used to derive market capitalization is:

where M(t) is the actual market cap at time t, M* is our adjusted market cap, and α is the decay rate of the exponential moving average, set with an half-life of 3 days.

The number of constituents was set at 30 because it is the minimum number necessary to be statistically significant. The use of more constituents would generate higher fees with no significant improvement to performance and any less than thirty would risk reduced performance, insufficient diversification, compromised statistical significance, and missed opportunities to pick the next rising star.
By taking the top 30 cryptocurrencies, the CCi30 captures a very high percentage of the cryptocurrency market capitalization. With this scope, the index statistically represents the entire cryptocurrency market with a confidence level of 99% and a confidence interval of 1.11. In other words, the margin of error of the index value as an indicator of the market is just 1.11%.

Constituents weight calculation

The weight of each constituting cryptocurrency is measured by the square root of its adjusted market capitalization, so at time t, the weight of the cryptocurrency 0 will be:

where Mi* is the adjusted market capitalization of a specified cryptocurrency at time t.

The square root function was chosen as a hybrid that most accurately weights the constituents based on the current conditions of the cryptocurrency market.
A simple market capitalization weighted index would be dominated by the top two cryptocurrencies, while a more slowly decaying weighting, or in the extreme case, equal weighing, would give too much weight to the tiny, illiquid cryptocurrencies at the bottom of the range.
In order to accurately capture the movements of the market, no caps or floors are implemented upon the weights of the cryptocurrencies.

Index value calculation

Between rebalancing dates, the index value is defined as:

Where It is the value of the index at time t, Wj is the weight of the jth name in the index, and Pj is the price of the jth name as a function of time.

On rebalancing dates, the weights are normalized in such a way that the index value is the same, whether it is computed with old or with new weights.

The index is calculated in realtime. All values refer to the close of the previous day, considered to be at 0000 GMT.

The results

Not too surprisingly, the index represents a much safer investment approach than trying to pick single coins. Investing in the index allows to profit from the unforecastable raise of some cryptocurrencies, while limiting the losses deriving from the fall of others.

The CCi30 is the most accurate instrument for measuring the whole cryptocurrencies market, and the Blockchain sector in general. It represents a useful tool for investors, a benchmark for traders and asset managers, a replicable index for passive funds and ETFs. In short, it is the industry standard for cryptocurrencies.

Download the index whitepaper
Download the index methodology manual

Statistics

  • Sharpe-Rivin* ratio (annualized): 0.62
  • Bitcoin Sharpe-Rivin: 0.70
  • Yearly Volatility (σ): 1.91
  • Monthly Volatility (σ): 0.23
  • Bitcoin R2: 0.73569, Beta: 0.94, Alpha: 0.04
  • Euro R2: 0.00110, Beta: 0.32, Alpha: 1.19
  • GLD R2: 0.00624, Beta: 0.45, Alpha: 1.11
  • SPY R2: 0.02494, Beta: 0.70, Alpha: 1.01

* The Sharpe-Rivin ratio is a development of the Sharpe ratio formula by Prof. Igor Rivin. It serves as a more accurate way of measuring risk-adjusted returns. For more information you can read this paper.

Download the OHLCV daily values of the index (.csv)
Download the index constituents by quarter (.csv)
Download monthly constituent weight percentages (.csv)

$2,570.34 bn
total 30 cap
$65.96 bn
24hr trading volume
87.6%
of all market cap

Who We Are

CCi30 was created and is maintained by an independent team of mathematicians, quants and fund managers lead by Igor Rivin, Professor of Mathematics at Temple University and Regius Professor of Mathematics at St. Andrews University, and Carlo Scevola, economist and entrepreneur. Robert Davis, Engineer, IT expert and programmer, is responsible for technology.

The CCi30 index is currently used by several financial institutions as the benchmark for their investment strategies.
A free license is available for academic and research use. A realtime API and various data analysis tools are included in the commercial license.

Contact Us

Common Questions About CCi30 Cryptocurrency Index

A cryptocurrency index is a measurement tool that tracks the performance of multiple cryptocurrencies as a single number.

Similar to stock market indices like the S&P 500, crypto indices combine prices of several digital assets based on specific rules. They use market capitalization, liquidity criteria, and other factors to select and weight index constituents.

Cryptocurrency indices help investors monitor market trends, compare performance, and make informed decisions. They provide a benchmark for the crypto market and allow for diversification without buying individual cryptocurrencies.

Investors can access these indices through ETFs and other financial products.

The CCi30 is a rules-based benchmark index that tracks the 30 most significant cryptocurrencies by market capitalization, liquidity, and ecosystem relevance. It aims to provide a diversified, transparent, and replicable snapshot of the broader crypto market while minimizing biases toward short-term hype or overexposure to any single asset.

The top 30 cryptocurrencies by adjusted market capitalization are automatically selected for the index. Stablecoins pegged to fiat currencies are excluded.

The number 30 was chosen because it is the minimum number needed for statistical significance. Using more constituents would increase fees without improving performance, while using fewer would reduce diversification and statistical reliability.

The current composition captures a high percentage of the total cryptocurrency market capitalization.

The square root function provides the most accurate weighting system for the cryptocurrency market.

A simple market capitalization weighted approach would give too much influence to the top two cryptocurrencies. Equal weighting would overrepresent small, illiquid cryptocurrencies.

The square root function creates a balanced approach that accurately reflects market movements without needing caps or floors on constituent weights.

The index is calculated in real-time, with all values referring to the close of the previous day at 0000 GMT.

On rebalancing dates, weights are normalized to ensure the index value remains consistent whether calculated with old or new weights. This rebalancing helps maintain an accurate representation of the cryptocurrency market.

The CCi30 index provides a better investment vehicle than Bitcoin alone and offers a safer approach than picking individual coins.

By investing in the index, you benefit from the unexpected rise of some cryptocurrencies while limiting losses from others that may decline. This diversification reduces risk while maintaining exposure to the broader crypto market.

CCi30 uses an exponentially weighted moving average with a 3-day half-life to calculate market capitalization. This method smooths volatility and provides a more stable view of the market.

The index also uses the square root function for weighting constituents, which balances representation between large and small cryptocurrencies. These features make CCi30 the most accurate instrument for measuring the entire cryptocurrency market.

Yes, the CCi30 is designed as a replicable index for passive funds and ETFs. It serves as the industry standard for cryptocurrencies and provides a reliable benchmark for the digital asset space.

Financial institutions can use CCi30 to create investment products that track the performance of the broader crypto market.

The CCi30 handles market volatility through its exponentially weighted moving average approach to market capitalization.

Instead of using instantaneous numbers that would destabilize the index, CCi30 calculates an adjusted market cap that smooths volatility. This method provides a more accurate portrait of market capitalization at any given time and creates a more stable index.

The index data is calculated in real-time and available on cci30.com, our site.

All values refer to the close of the previous day at 0000 GMT. The website provides current index values, constituent weights, and historical performance data to help investors track the cryptocurrency market.

The Market Efficiency Ratio (MER) is a measure of how efficiently prices move over time. It compares the net change in price over a period to the total amount of volatility (or "noise") during that period. A perfectly efficient market would have MER = 1, meaning price moves smoothly without excess fluctuation.

MER =
|Priceend − Pricestart|
∑i=1n |Pricei − Pricei−1|

While the CCi30 itself is not a direct investment product, it serves as a benchmark for institutional funds, ETFs, and structured products. For self-custody replication, refer to our methodology for portfolio construction guidance.

If a coin is delisted, frozen, or compromised, the CCi30 team follows predefined emergency protocols:

  • Immediate removal if security/legal risks arise.
  • Recomposition of the index excluding the removed coin.
  • Methodology transparency: all changes are disclosed promptly.

See our Methodology section for detailed policies.

  • Diversification focus: Targets 30 high-liquidity assets.
  • Dynamic weighting: Avoids BTC overexposure without hard capping.
  • Transparency: Fully rules-based, no subjective adjustments.
  • Reputation: Launched in 2017 and unchanged since then, CCi30 is the oldest and most trusted crypto index.
  • Independence: Not linked to any investment manager, exchange or news outlet. No conflicts of interest.

For a detailed comparison, see our 'Index vs. Peers' analysis.

The CCi30 is widely regarded as the industry standard due to its transparent methodology, robust construction, and long-standing reputation for accuracy and reliability. It has been operational since 2017.

The CCi30 is used by asset managers, fund administrators, family offices, and institutional allocators as a benchmark for portfolio performance, asset selection, and strategy evaluation.

The index serves both as a reliable industry benchmark for fund managers and as an accessible entry point for passive investors seeking diversified exposure to crypto assets.

Including 30 assets ensures a broad and diversified representation of the market, capturing both established and emerging digital currencies.

The monthly rebalancing schedule and the square root weighting method help to smooth volatility and prevent sudden shifts in the index composition.

Simple market cap weighting overemphasizes the largest cryptocurrencies. CCi30's square root weighting offers a more balanced view of the market.

The CCi30 Index methodology is fully transparent and publicly available, ensuring that investors and institutions can understand and trust its construction.

Yes. Historical index values and performance metrics are available directly on cci30.com and can be provided via data feed or API for integration into portfolio management systems.