The circulating token supply includes all tokens generated from a network’s coinbase transactions, block rewards, and, when applicable, uncle rewards and/or scheduled supply adjustments. The circulating token supply for each constituent is updated at the end of every calendar quarter and, upon completion of a quarterly review period, is incorporated into the DLCX market cap-weighting.
|Asset||Supply||Index Price||24H Vol||Index Weight|
|Type||Price (USD)||Premium||24H Vol|
The CoinDesk Large Cap Index (DLCX) is designed to track an investable basket of large cap crypto assets via a market cap-weighted benchmark index. Through a rules-based index construction process, created by Grayscale Investments, LLC and calculated and maintained by TradeBlock, Inc. (a subsidiary of CoinDesk, Inc.), the index targets a minimum of 70% coverage of the crypto asset market capitalization and is reviewed on a quarterly basis for potential rebalancing, including: additions, removals, and updates to circulating supply figures.
DLCX is a composite benchmark index based on CoinDesk’s single-currency indexes for: Bitcoin (XBX Index), Ethereum (ETX Index), Bitcoin Cash (BCX Index), Litecoin (LTX Index), Chainlink (LNX Index) and Cardano (ADX Index). DLCX constituent weights are calculated based on the latest U.S. dollar-denominated value of each constituent and its corresponding circulating token supply.
The market cap-weighting for each constituent is calculated by multiplying the circulating token supply for each constituent by its end-of-day price at 4 p.m. New York time each day, as reflected by the 24-hour VWAP of the corresponding CoinDesk Index, and then determining the percentage share of each relative to the aggregate market cap of all constituents. The market capitalization for each currency is then used as the weighting for the subsequent 24-hour DLCX calculations. This process is repeated every 24 hours to recalculate daily weightings.
CoinDesk provides reliable, institutional-grade benchmarks for a basket of select digital currencies—the CoinDesk Large Cap Index (DLCX)—and single currency spot prices for the following: Bitcoin (XBX), Ether (ETX), Ether Classic (ECX), Litecoin (LTX), Zcash (ZCX), Bitcoin Cash (BCX), Stellar Lumens (XLMX), EOS (EOSX), Link (LNX), and BAT (BTX).
The proprietary index calculation, managed by TradeBlock, relies on an algorithm that follows strict, pre-set parameters to ensure reliable benchmark rates. The algorithm includes pricing data from a number of digital currency exchanges that follow TradeBlock’s exchange eligibility criteria, thereby limiting price data to exchanges with reliable and regulatory compliant market activity.
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