Coin Metrics, a leading provider of independent and transparent cryptoasset data, is pleased to announce the launch of the CMBI Single Asset Indexes. These indexes form the initial series of a wide range of index products to be launched under the Coin Metrics Bletchley Indexes (CMBI) brand. Indexes have been a focus of Coin Metrics’ strategy since raising funds to develop wider and deeper community coverage of cryptoassets and an institutionally focused suite of cryptoasset data, as evidenced by the acquisition of the Bletchley Indexes in early 2018 and the subsequent creation of the CMBI brand.
The initial launch will include the CMBI Bitcoin Index (CMBIBTC) and the CMBI Ethereum Index (CMBIETH), with more single asset, multi asset and smart beta indexes to be added in the future.
For both the CMBIBTC and CMBIETH indexes, Coin Metrics calculates two return types which vary in their treatment of legitimate forked assets. For more information on legitimate forked assets, please refer to the CMBI Fork Legitimacy Policy.
- Price Return values are calculated without crediting any value for a legitimate fork.
- Total Return values reinvest the value of a legitimate fork without consideration of taxes.
The CMBIBTC and CMBIETH utilize and produce two different level types
- Intraday levels, which are currently published every 15 seconds to reflect the real time price of the index based on the most recent trades from eligible markets.
- Close levels, which are published at 4pm ET daily, have been designed to represent a more robust and manipulation resistant end of day price based on a time weighted, volume weighted median of trades from eligible markets over the previous hour
Indexes play a critical role in allowing Coin Metrics to achieve its mission of providing markets with transparent and actionable cryptoasset data, by providing investors, asset managers and financial advisors with the tools required to direct their investments towards opportunities in the cryptoasset ecosystem.
“The presence of robust and transparent cryptoasset data and products that meet the standards of traditional capital markets is essential to institutional adoption. Our CMBI indexes have been designed to lower barriers to entry by aligning ourselves with traditional capital market principles and meeting the standards and quality expectations of institutions” stated Tim Rice, Coin Metrics CEO
As one of the early and only providers of both cryptoasset market and network (on-chain) data, Coin Metrics is uniquely positioned to design, construct and administer high quality cryptoasset indexes to the market. Further, as an independent benchmark administrator, Coin Metrics maintains the highest level of integrity and independence throughout the indexes design and administration process.
“As a pure play data provider and independent benchmark administrator, Coin Metrics indexes have been designed to bring transparency and industry best practices to cryptoassets” commented Ben Celermajer, CMBI Index Manager
Since the Bletchley Indexes acquisition, Coin Metrics have been developing market and network data tools, conducting relevant research and establishing the governance and operational features required to launch robust, transparent and objective index products to help with the professionalization of the cryptoasset market. To meet the highest industry standards, CMBI Indexes have been designed to align with IOSCO Principles for Financial Benchmarks.
CMBI Benchmarks leverage CM Reference Rates whose methodologies have been extensively tested to perform as designed in all foreseeable market conditions and have strict market selection criteria to ensure relevant pricing of assets. Information on the methodology for CM Real-Time Reference Rates (intraday) and CM Reference Rates (close) levels can be found on the Coin Metrics website.
In conjunction with the release of the CMBI Single Asset Indexes, Coin Metrics is happy to announce an engagement with CMBI’s first partner and client, Stack. The CMBI Bitcoin Index will serve as the benchmark for Stack’s flagship Bitcoin Index fund.
For information on licensing CMBI Indexes for use in structured financial products, as a derivative product settlement price, as a performance benchmark or other, please contact us at info (at) coinmetrics (dot) io
For further information on CMBI indexes or Coin Metrics data, please visit our website at https://coinmetrics.io/.
