The cryptocurrency market benchmark

CCi30 Cryptocurrency Index

The CCi30 Cryptocurrency Index tracks the 30 largest cryptocurrencies by market capitalization under published rules, rebalanced monthly and reconstituted quarterly, in real time.

30constituentsiConstituents: the index holds the 30 largest cryptocurrencies by adjusted market capitalization, stablecoins excluded. Thirty is the smallest count that keeps sampling error statistically insignificant.99%confidence leveliConfidence level: the 30-constituent sample tracks the total cryptocurrency market capitalization within a 99% statistical confidence interval.MonthlyrebalancingiRebalancing: constituent weights are recalculated on the first calendar day of every month and implemented at 00:00 GMT. Membership does not change at a rebalancing.QuarterlyreconstitutioniReconstitution: index membership is reviewed on the first calendar day of every quarter, when assets leaving the top 30 are removed and newly qualifying assets are added.
52 week change -54.65%
52 week high 23,262.30
52 week low 9100.35
30 Day Market Efficiency Ratio %
Year to date change -32.44%
Month to date change 5.00%
Daily high 9,583.64
Daily low 9,544.91

Chart last updated

What is the 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 Cryptocurrency Index

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

  1. DiversificationBroad exposure across top assets
  2. ReplicabilityEasy to replicate for investment products
  3. TransparencyClear, rules-based methodology
  4. Full Market CoverageRepresents the entire crypto market
  5. Balanced Risk-Aware CalibrationMitigates 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.

Which cryptocurrencies are in the CCi30 Cryptocurrency Index?

The table lists the current 30 constituents with live prices, market capitalizations and daily changes. Membership is fixed between quarterly reconstitutions, and weights follow the square root of adjusted market capitalization.

Ranking Name Price Market cap Change (day)
1
BTC
Bitcoin 		$65,049.07 $1,283,186,320,541 -0.07%
2
ETH
Ethereum 		$1,871.86 $224,108,810,840 -0.36%
3
BNB
BNB 		$567.50 $75,163,330,807 0.02%
4
XRP
XRP 		$1.11 $68,174,902,816 0.03%
5
SOL
Solana 		$75.81 $43,083,668,537 -0.13%
6
TRX
TRON 		$0.33 $31,287,040,333 -0.07%
7
HYPE
Hyperliquid 		$58.03 $14,462,136,671 0.87%
8
DOGE
Dogecoin 		$0.07 $10,757,948,288 0.12%
9
LEO
UNUS SED LEO 		$9.69 $8,930,558,791 -0.27%
10
ZEC
Zcash 		$504.63 $8,010,342,442 -0.03%
11
XMR
Monero 		$352.92 $6,898,519,778 -0.65%
12
LINK
Chainlink 		$6,220,164,210 -0.88%
13
XLM
Stellar 		$0.18 $6,063,936,121 -0.27%
14
ADA
Cardano 		$0.17 $5,946,790,400 -1.00%
15
CC
Canton 		$0.12 $4,571,368,371 -0.63%
Ranking Name Price Market cap Change (24h)
16
BCH
Bitcoin Cash 		$210.35 $4,222,499,172 -0.72%
17
GRAM
Gram (prev. Toncoin) 		$1.47 $4,017,808,895 0.43%
18
LTC
Litecoin 		$46.78 $3,576,213,035 -0.36%
19
HBAR
Hedera 		$0.07 $3,078,146,095 -0.36%
20
SUI
Sui 		$0.75 $2,879,185,723 0.15%
21
AVAX
Avalanche 		$6.27 $2,706,400,743 0.03%
22
CRO
Cronos 		$0.06 $2,681,296,755 0.18%
23
SHIB
Shiba Inu 		$0.00 $2,468,789,333 0.34%
24
NEAR
NEAR Protocol 		$1.79 $2,339,647,252 -5.01%
25
UNI
Uniswap 		$3.84 $2,302,259,193 2.18%
26
TAO
Bittensor 		$192.39 $2,129,468,520 -0.23%
27
WLFI
World Liberty Financial 		$0.06 $1,807,608,100 -1.33%
28
ASTER
Aster 		$0.63 $1,679,646,781 0.88%
29
M
MemeCore 		$1.20 $1,595,225,738 4.34%
30
DEXE
DeXe 		$3.77 $417,926,090 55.98%

How is the CCi30 Cryptocurrency Index constructed?

The construction rules below define how the index picks its 30 constituents, how it weights them, how the published value is computed, and when each of those steps is repeated.

How are the constituents selected?

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. The formula used to derive market capitalization is:

M*(t)=∑i=0∞M(T−i)e−αi∑i=0∞e−αi
Adjusted market capitalization: exponentially weighted moving average with a three-day half-life

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%.

How is each constituent weight calculated?

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:

w0(t)=M0*(t)∑i=0NMi*(t)
Constituent weight: square root of adjusted market capitalization, normalized across the 30 constituents

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.

How is the index value calculated?

Between rebalancing dates, the index value is defined as:

It=∑j=130WjPj(t)Pj(0)
Index value between rebalancing dates: weighted sum of constituent price ratios

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.

When is the index rebalanced and reconstituted?

Index maintenance is performed on two separate schedules.

Rebalancing (monthly). On the first calendar day of each month, the adjusted market capitalization of each constituent is recalculated and constituent weights are updated according to the square root weighting formula. New weights are implemented at 00:00 GMT on the first Index Business Day of the month. Rebalancing does not alter index membership.

Reconstitution (quarterly). On the first calendar day of each quarter, all eligible cryptocurrencies are re-ranked by adjusted market capitalization. Assets no longer ranking within the top 30 are removed from the index; assets newly ranking within the top 30 are added. Changes are implemented at 00:00 GMT on the first Index Business Day of the quarter. Between reconstitution dates, index membership remains fixed.

At each rebalancing and reconstitution, the index divisor is adjusted so that the index value is unchanged whether computed with the previous or the updated composition and weights. Scheduled maintenance therefore has no effect on the index level.

Rebalancing and reconstitution at a glance
Rebalancing Reconstitution
Object of the change Constituent weights Index membership
Frequency Monthly Quarterly
Implementation 00:00 GMT, first Index Business Day of the month 00:00 GMT, first Index Business Day of the quarter

The separation of weight updates from membership review follows the standard practice of established equity benchmarks. Monthly reweighting keeps the index representative of prevailing market proportions; quarterly membership review limits turnover, and consequently the transaction costs incurred by funds and products replicating the index.

The use of adjusted market capitalization, an exponentially weighted moving average with a three-day half-life, further prevents transient ranking changes from affecting index composition.

What do the rules produce?

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

What are the risk and return statistics of the CCi30 Cryptocurrency Index?

These figures are computed from the official daily index values. They cover risk-adjusted return, volatility and the market efficiency ratio, each recalculated as new closes are published.

  • Sharpe-Rivin* ratio (annualized)0.58
  • Bitcoin Sharpe-Rivin0.67
  • Yearly Volatility (σ)1.64
  • Monthly Volatility (σ)0.22
  • Bitcoin R2: 0.73939, Beta: 0.95, Alpha0.02
  • Euro R2: 0.00104, Beta: 0.32, Alpha0.96
  • GLD R2: 0.00594, Beta: 0.45, Alpha0.90
  • SPY R2: 0.02368, Beta: 0.71, Alpha0.81

* 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) Explore historical constituents and weights

$1,834.77 bn
total 30 cap
$41.22 bn
24hr trading volume
83.9%
of all market cap

Who is behind the CCi30 Cryptocurrency Index?

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 the CCi30 Cryptocurrency Index team

We’re here to help with licensing, data requests, partnerships, and research inquiries.

More resources

FAQsVisit our FAQ Index dataDownload CSV datasets MethodologyWhitepaper and manual

How do you send the team a message?

Fill out the form and the team will get back to you as soon as possible.

Email: info at cci30 dot com

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What do people ask about the CCi30 Cryptocurrency Index?

Answers below cover what the index measures, how constituents and weights are chosen, when it is rebalanced and reconstituted, and how the data can be used.

What is a cryptocurrency index?

A cryptocurrency index is a financial benchmark that measures the performance of a defined basket of digital assets under published rules. A cryptocurrency index works like an equity index such as the S&P 500: it combines the prices of its constituents into a single value, so investors can track the whole market instead of individual coins. The CCi30 Cryptocurrency Index is a cryptocurrency index that tracks the 30 largest cryptocurrencies by market capitalization.

What does the CCi30 cryptocurrency index measure?

The CCi30 Cryptocurrency Index measures the market performance of the 30 largest cryptocurrencies by market capitalization, excluding stablecoins. The index expresses that performance as one number, with a base value of 100 on . The CCi30 has published this measurement since , when it launched as the first independent, rules-based benchmark for the entire cryptocurrency market.

Why is a cryptocurrency index better than tracking Bitcoin alone?

A cryptocurrency index measures the whole market, while Bitcoin represents a single asset. Bitcoin-only benchmarks miss the price movements of every other asset in the market. The CCi30 Cryptocurrency Index closes this gap by tracking 30 assets, including Bitcoin, Ethereum, and 28 other large-cap cryptocurrencies. Diversification across 30 constituents lowers the impact of any single asset's rise or failure on the measured performance.

Why does the CCi30 Cryptocurrency Index include exactly 30 cryptocurrencies?

Thirty is the minimum number of constituents that keeps the index statistically significant. With 30 constituents the CCi30 Cryptocurrency Index represents the entire cryptocurrency market at a 99% confidence level with a margin of error of 1.11%. More constituents would raise replication costs without improving accuracy, and fewer constituents would reduce diversification and statistical significance.

How does the CCi30 Cryptocurrency Index select its constituents?

The CCi30 Cryptocurrency Index selects the top 30 cryptocurrencies by adjusted market capitalization. Adjusted market capitalization is an exponentially weighted moving average of market capitalization with a three-day half-life, which filters out short-lived spikes. Stablecoins are excluded because their prices are pegged to fiat currencies and carry no market information. The constituent ranking is recalculated at every quarterly reconstitution; constituent weights are recalculated at every monthly rebalancing.

How does square-root weighting work in the CCi30 Cryptocurrency Index?

The CCi30 Cryptocurrency Index weights each constituent by the square root of its adjusted market capitalization. Square-root weighting reduces the dominance of Bitcoin and Ethereum and increases the contribution of mid-cap constituents, compared with plain market-cap weighting. The index applies no caps and no floors, so the weights follow the market freely at every rebalancing.

Why does the CCi30 Cryptocurrency Index smooth market capitalization data?

Smoothing protects the index composition from short-term volatility and manipulation. The CCi30 Cryptocurrency Index smooths each constituent's market capitalization with an exponentially weighted moving average set to a three-day half-life. This smoothing decreases the effect of intraday spikes on constituent selection and keeps the composition stable between rebalancing dates.

When is the CCi30 Cryptocurrency Index rebalanced?

The CCi30 Cryptocurrency Index is rebalanced monthly. Rebalancing adjusts constituent weights: on the first calendar day of each month, adjusted market capitalizations are recalculated and new weights are implemented at 00:00 GMT. Rebalancing does not change which cryptocurrencies are in the index, membership changes happen only at the quarterly reconstitution. Weights are normalized so the index value is identical before and after each rebalancing.

When is the CCi30 Cryptocurrency Index reconstituted?

The CCi30 Cryptocurrency Index is reconstituted quarterly. Reconstitution changes index membership: on the first calendar day of each quarter, the ranking by adjusted market capitalization is re-run, assets that no longer qualify for the top 30 are removed, and newly qualifying assets are added. Between reconstitutions, membership is fixed, a coin that briefly enters the top 30 mid-quarter does not join the index until it qualifies at the next quarterly review.

What is the difference between rebalancing and reconstitution?

Rebalancing changes the weights; reconstitution changes the members. The CCi30 Cryptocurrency Index rebalances monthly, updating how much each of the 30 constituents counts, and reconstitutes quarterly, updating which 30 cryptocurrencies are in the index. The two schedules are deliberate: monthly reweighting tracks the market proportions closely, while quarterly membership review keeps turnover and replication costs low for products benchmarked to the index.

How is the CCi30 Cryptocurrency Index value calculated?

The CCi30 Cryptocurrency Index value is a weighted sum of its constituent prices. Each constituent price is multiplied by its weight, and the results are combined into a single index value. The index is calculated in real time, and daily reference values refer to the close of the previous day at . The exact formulas are published in the CCi30 methodology manual.

What happens when a constituent is delisted or compromised?

A delisted or compromised cryptocurrency is removed from the CCi30 Cryptocurrency Index immediately. The next qualifying asset by adjusted market capitalization replaces the removed constituent, so the index always contains 30 investable assets. The same rule applies to any asset that stops meeting the eligibility criteria.

Where can I download cryptocurrency index data?

CCi30 Cryptocurrency Index data is free to download on this page. The statistics section provides three CSV files: the daily OHLCV values of the index, the index constituents by quarter, and the monthly constituent weight percentages. The daily file covers open, high, low, close, and volume, and it updates every day.

Does the CCi30 Cryptocurrency Index provide an API?

Yes. The commercial license includes a real-time API and data analysis tools. The academic license is free and gives universities and research institutions access to the data and the methodology for non-commercial research. License requests go through the contact form on this page.

How transparent is the CCi30 Cryptocurrency Index methodology?

The CCi30 Cryptocurrency Index methodology is fully public. The construction rules, the weighting formula, and the rebalancing logic are documented in the index whitepaper and the methodology manual, and both documents are free to download. Anyone can verify the index value by applying the published rules to market data.

Who uses the CCi30 Cryptocurrency Index?

Hedge funds, asset managers, family offices, and passive investors use the CCi30 Cryptocurrency Index. Financial institutions use the index as the performance benchmark for their cryptocurrency strategies, and passive investors use it as a reference for diversified exposure to the market. Academic researchers use the free license to study cryptocurrency market behavior.

Can the CCi30 Cryptocurrency Index underpin ETFs and structured products?

Yes. The CCi30 Cryptocurrency Index is licensed as an underlying benchmark for investment products. Its rules-based methodology and replicable weights make it suitable for ETFs, ETPs, certificates, and structured notes. Issuers license the index data and the CCi30 trademark through the commercial license.

Is the CCi30 Cryptocurrency Index itself an investable product?

No. The CCi30 Cryptocurrency Index is a benchmark, and a benchmark is a measurement tool rather than a fund. Investors gain exposure by replicating the published constituent weights or by buying licensed products that track the index. Replicability is one of the five design principles of the CCi30, next to diversification, transparency, full market coverage, and balanced risk-aware calibration.

How does a cryptocurrency index handle volatility?

The CCi30 Cryptocurrency Index handles volatility with three mechanisms that work in the same direction. Diversification across 30 assets lowers the impact of single-asset crashes. Square-root weighting lowers the concentration risk in the two largest assets. Market-cap smoothing lowers the effect of short-term spikes on the composition. The current yearly and monthly volatility values are published in the statistics section.

What is the Sharpe-Rivin ratio?

The Sharpe-Rivin ratio is a risk-adjusted return measure developed by Professor Igor Rivin, the mathematician who co-created the CCi30 Cryptocurrency Index. The ratio refines the classic Sharpe ratio for the volatility profile of cryptocurrencies. Current Sharpe-Rivin values for the CCi30 and for Bitcoin appear in the statistics section, and the underlying paper is free to download.

What is the Market Efficiency Ratio (MER)?

The Market Efficiency Ratio (MER) quantifies how closely a price series follows a smooth trend instead of random noise. The MER divides the absolute price change over a period by the sum of the absolute daily changes within that period, so its value ranges from 0 to 1. A higher MER indicates a more efficient, trend-like market. The CCi30 Cryptocurrency Index publishes a 30-day MER next to the live index value.

Who maintains the CCi30 cryptocurrency index?

An independent team of mathematicians, quantitative analysts, and fund managers maintains the CCi30 Cryptocurrency Index. The team is led by Igor Rivin, Professor of Mathematics at Temple University, and Carlo Scevola, economist and entrepreneur. Robert Davis, engineer, is responsible for the index technology. The team has maintained the index continuously since .