By: James Mitchell
Published on: October 15, 2023
Index Rebalancing Results Announced
On October 13, Hong Kong’s HKVAC published the results of its HKVAC Key Indexes and HKVAC Market Indexes rebalancing. The changes will take effect on October 20.
Top 5 Crypto Indexes
- BTC
- ETH
- USDT
- BNB
- XRP
XRP has replaced Circle’s USD Coin (USDC) stablecoin in the HKVAC Cryptocurrency Global Large Top5 Index and the HKVAC Cryptocurrency Global Large Top5 Equal Weight Index.
This move comes amidst recent positive developments in the U.S. SEC v. Ripple Labs lawsuit, where Judge Torres denied the SEC’s motion to file an interlocutory appeal.
Additional Index Changes
HKVAC Cryptocurrency Global Large Market Cap Index
- Added: Hedera (HBAR), Maker (MKR), Quant (QNT)
- Removed: Cryptonex (CNX), Internet Computer (ICP), HEX
The total number of constituents in this index remains unchanged at 30.
HKVAC Cryptocurrency Large Market Cap Index
- Added: Hedera (HBAR), Maker (MKR), Quant (QNT)
- Removed: Cryptonex (CNX), Internet Computer (ICP), HEX
There were no changes to other global large top 10 indexes.
Expanding Crypto Landscape in Hong Kong
The launch of the HKVAC index has garnered significant attention amid a global push for digital asset regulation and adoption. Binance CEO Changpeng “CZ” Zhao commented on the recent developments, stating, “HK moving forward.”
Hong Kong’s institutional and retail cryptocurrency landscape is gaining attention amidst rising regulatory scrutiny in other jurisdictions.
Disclaimer
The opinions expressed in this article are solely those of the author and do not reflect the views of HKVAC or any other organization. The author may hold investments in the cryptocurrencies mentioned in this article. Investors should conduct their own research and consult with financial professionals before making any investment decisions.
Additional Information
HKVAC Index Constituents
- WBTC
- BTCB
- stETH
- BCH
- LTC
- BNB
- MATIC
- ADA
- ATOM
- FIL
- NEAR
- ALGO
- ICP
- XRP
- DOGE
- DOT
- WTRX
- SHIB
- TRX
- LINK
- LEO
- XMR
- XLM
- OKB
- LDO
- HBAR
- VET
- QNT
- FTM
- EOS
About the Author
James Mitchell is an industry analyst with over 8 years of experience covering blockchain and cryptocurrency markets. He has written extensively on topics ranging from digital asset regulation to decentralized finance (DeFi) and the impact of blockchain technology on various industries.
Sources
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