MV Index Solutions (MVIS) - MVIS CryptoCompare Digital Assets Indices June 2021 - MVIS Indices
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June 2021 MV Index Solutions (MVIS®) MVIS® CryptoCompare Digital Assets Indices
Contents
Accelerating innovation in financial index design
Types of Digital
Index Concept
Assets
Indices in the
MVIS Index Family
spotlight
2MV Index Solutions
Accelerating innovation in financial index design and AUM for Licensed Prodcuts by % of Index Category
adoption since its launch in 2011
2.85%
2.12%
Moving beyond common categories, MVIS is a leading provider of
blue-chip indices built on three key factors: pure-play exposure,
15.55%
component liquidity, and index diversification. In combination,
these factors ensure best practices in index design, optimized for
the future of ETPs. 41.69%
MVIS specializes in indices that capture specific potential
investment themes ranging from hard assets, international equities 37.79%
with a strong focus on emerging markets, digital assets, fixed
income, and disruptive sectors.
MVIS is registered as a benchmark administrator under the
European Benchmarks Regulation since July 2019 and its Index Hard Asset Indices Sector Indices
methodology and operational process adheres to IOSCO Country Indices Bond Indices
guidelines. Digital Assets Indices
August 2020, MVIS acquires BlueStar Indexes, a New York- AUM for Licensed Count of Count of
based research-driven provider of indices and financial data, Index Category Products Licensed Index
increasing the range of indices and global business. (USD mn) Index (Family)
Bond Indices 670 5 9
MVIS deploys a highly customizable product and paradigm-
Country Indices 4,097 10 40
based index methodology that enables investors to express views
Digital Asset Indices 2,370 6 30
beyond the limitations of traditional broad or sector benchmarks.
Hard Asset Indices 11,416 10 11
MVIS leverages its Index Advisory Committee, a governance Sector Indices 14,272 38 50
body of industry and thematic experts, to oversee the
Customised Indices 30 1 11
maintenance of its indexes, ensuring that they reflect their stated
Total 32,855 70 151
objectives and implement best practices into their construction.
Source: MV Index Solutions. Data as end of June 2021
3Types of Digital Assets
There is currently no standard definition of digital assets types, as there are for securities in various jurisdictions. Drawing distinctions
between different types of digital assets is important because the regulatory treatment of a particular digital asset depends in large part on
whether or not it is a “security”. Types of digital assets underlying MVIS Indices fall under the following categories:
Currencies Platforms Applications
• Cryptocurrencies, like • Platforms serve as a base • Applications are specific use
traditional currencies, are layer that underlie and enable cases that enable the tracking
meant to be a store of value a wide variety of applications of ownership, allocating
• Bitcoin (BTC) is the most • Ethereum (ETH), for example, resources or meet a specific
widely recognized is a platform with 30+ “product” utility
cryptocurrency, and has applications being developed • For example, IOTA is an
become known as a form of on it application-based digital asset
“digital gold” • Platforms protocols are often that is used to track internet of
• Not all cryptocurrencies are called “fat protocols” relative to things devices and measures
currently an effective means to “thin applications” to describe communication traffic
transact value where most of the value lies in • Applications are predominantly
public blockchains ICO-funded
4Growth of Digital Assets & MVIS Milestones
Apr: Licensing of the MVIS
CryptoCompare Ethereum Benchmark
Rate (EBR) and the MVIS
CryptoCompare Bitcoin Benchmark Rate
(BBR) to 3iQ Corp for ETFs in Canada
$ 1,884mn 6750
Nov: 21Shares lists the
world’s first crypto basket
ETP (HODL) on the Swiss
SIX Exchange
$ 1,414mn 5120
Jul: Licensing of the
MVIS CryptoCompare
Nov: First major index Bitcoin Index (MVBTC) 3490
$ 944mn
provider to offer to Arrano Capital in
Digital Asset Indices Hong Kong
$ 474mn 1860
$ 4mn 230
12/14 06/15 12/15 06/16 12/16 06/17 12/17 06/18 12/18 06/19 12/19 06/20 12/20 06/21
Market Capitalisation Count of Digital Assets
Source: MV Index Solutions. Data as end of June 2021.
5Digital Asset Investment Risks
The primary or main risks related to digital assets include the following:
Liquidity risk: illiquid and fragmented market structures; difficult to exit market or transfer value.
Volatility risk: non-transparent valuation and pricing leading to high price volatility.
Counterparty risk: risks arising from crypto-asset brokers, crypto trading platforms, wallet providers and other intermediaries; may be difficult to
identify and/or locate counter-party or intermediary; it may also be difficult to determine relevant jurisdiction laws.
Investment risk: the capital invested is not guaranteed, and the risks associated with the investment may not be clearly stated in the documentation
published by the issuer.
Risk of insufficient information disclosure: information may be missing, inaccurate, incomplete and unclear; documents may be highly technical and
require sophisticate; unintentional coding error knowledge.
Project risk: immaturity/extreme early stage of many applications; the project might not be realized, which would ultimately make the crypto-asset
worthless
Technical and operational risks: cyber-security risk and hacking of trading platforms and participants in the life cycle of a trade (usually social
engineering); encryption vulnerability; developments in quantum computing (which would increase success of private key hacking; custody risk;
loss of access code.
Ecosystem design flaws: can miners and developers “run” the “core” software? (Linux is a good example for successful open execution); will
payments continue to sustain processing and verification activities?
Risk of fraud: lack of transparency and decentralized systems can mask underlying activity.
Governance shortfall: lack of appropriate regulation or changing regulation; lack of appropriate investor protection.
6Top Ten Digital Assets By Market Capitalization
Market Cap Price Mon. Avg. Vol. (1 Mon)
Name Symbol
(in mln USD) (in USD) (in mlnUSD)
1 Bitcoin 647,013 34,522.07 BTC 12,702
2 Ethereum 234,261 2,012.09 ETH 8,586
3 Tether 62,645 1.00 USDT 32,948
4 Binance Coin 47,886 312.10 BNB 1,497
5 Cardano 44,437 1.39 ADA 1,256
6 Dogecoin 31,735 0.24 DOGE 1,711
7 USD Coin 25,537 1.00 USDC 190
8 Polkadot 15,563 16.30 DOT 1,004
9 HEX 13,769 0.08 HEX 21
10 Uniswap Protocol Token 10,445 18.16 UNI 348
Source: MV Index Solutions. Data as end of June 2021.
7Top Digital Asset Exchanges
Bitcoin Value Traded Bitcoin Market Share
gemini cex.io exmo
Total Value Traded 6% 1% 0%
Top Exchanges
last 3mo (USD)
Coinbase 4,105,088.26 bitstamp
11%
Bitfinex 2,148,800.03
Kraken 1,260,442.03
Bitstamp 1,029,194.13
Gemini 534,629.73 kraken
14% coinbase
Cex.io 56,008.67 45%
Exmo 32,292.54
bitfinex
23%
coinbase bitfinex kraken bitstamp gemini cex.io exmo
Source: MVIS Resarch, CryptoCompare and data.bitcoinity.org. Data as of end of June 2021.
8Designing an Investable Digital Asset Index
Seven Attributes of a ‘Good Index’* Challenges for Digital Assets
Digital Asset Products Have Unique Challenges Some of the distinct
characteristics of digital assets make it harder to launch financial products. De
facto corporate events such as
COST
Measuring liquidity and benchmarking price is difficult. MVIS Solution:
EFFECTIVE ACCURATE liquidity-weighted tape
low turnover and complete data Complicated events like hard forks require a robust methodology. A fork is
low costs
defined as an event that splits the existing blockchain protocol into two or
more versions using a different set of rules and features. Exposure to a
single digital asset necessitates exposure to subsequent forks and future
evolutions. Blockchain “actions” require extensive research.
UNAMBIGUOUS MVIS Solution: index that includes forks
INVESTABLE clear rules and
AVAILABILE
linked to products
liquid and transparent Understanding custody and safekeeping risks is critical. Counterparty risk
tradeable governance of trading platforms (along with potential conflicts of interest, front running,
structure
lack of transparency) can be opaque. High human/key person risk,
dependency on trusting individuals at custody providers.
MVIS Solution: using exchange traded instruments and best practices
around custody
ACCEPTANCE COMPLETE
captures investor Reflects the
demand opportunity set
*Schoenfeld, Steven A. "Perfection Impossible - Best Practices for Index Construction”, Chapter 6, Active Index Investing (Wiley Finance, 2004)
9Price: Developing a Fair and Liquidity-Driven Global Price
MVIS’s methodology
Prices compiled from multiple global digital asset trading platforms
Trading platform weights established based on liquidity
– Prices are checked real-time on multiple trading platforms, covering
>90% of global trading volume (ex OTC)
– Availability every second, over 80,000 times a day
– More liquid trading platform receives a higher weight
– Exchanges are weighted by 24 hour volume
– Intraday liquidity is taken into account by liquidity penalty factor
Important notice: The calculated prices may not be achieved by investors as the calculated price is based on prices from different trading platforms. As not all trading platforms may be used by the investor the actual
price may differ and be much less than the calculated price referred to on this slide.
107/22/2021
Setting industry standards
MVIS universe: Partnership with CryptoCompare:
The index universe of the MVIS CryptoCompare index family In 2017, MV Index Solutions (MVIS) in partnership with CryptoCompare -
includes all crypto currencies (excl. security tokens and financial an established London-based digital assets data provider - launched a
instruments) covered by CryptoCompare in their Crypto Coin series of digital assets indices designed to most accurately track the
Comparison Aggregated Index (‘CCCAGG’). A detailed list of these performance of the otherwise fragmented global digital assets markets.
crypto currencies is available on request.
The MVIS CryptoCompare Indices are the first to meet investment
Additional platforms can be added/current platforms can be replaced industry benchmarking standards by providing a public rulebook for fork
by decision of the index owner. treatments and other events, industry-wide data distribution, proper
identifiers and further standard index governance requirements that are
expected from a regulated, unaffiliated, major benchmark provider.
MVIS applies strict and demanding liquidity screening to digital CryptoCompare offers the most complete pricing and transaction data
assets: collected from digital asset exchanges. It provides data to a broad range
of digital asset natives, wallets, apps, traders and researchers, as well as
One month average daily trading volumes of at least USD1 million at helps its community of over 330,000 users track their portfolio, stay up to
review date date and discuss the latest news
Liquidity criteria applies to the blue chips (5, 10, 25 component
indices) - not for the 100 component index (broad benchmark used as
a universe).
Important notice: The calculated prices may not be achieved by investors as the calculated price is based on prices from different trading platforms. As not all trading platforms may be used by the investor the actual
price may differ and be much less than the calculated price referred to on this slide.
11Providing Diversification
Most MVIS CryptoCompare Digital Assets indices use cap-factors to ensure diversification and avoid overweighting. Please refer
to the individual index description in section 4 of the Index Guide for the capping scheme used.
Index components and weightings are reviewed on a monthly basis.
Weighting schemes
— MVIS CryptoCompare Digital Assets 5 Index: 35% maximum weight per constituent
— MVIS CryptoCompare Digital Assets 10 Index: 30% maximum weight per constituent
— MVIS CryptoCompare Digital Assets 25 Index: 20%
(capping factors are staggered from a maximum weight of 20% down to 4.5%)
MVIS CryptoCompare Digital Assets 10 Index
Digital Asset Uncapped Weight Weight
Bitcoin 61.16% 30%
Ethereum 22.14% 30%
Binance Coin 4.53% 11%
Cardano 4.20% 10%
Dogecoin 3.00% 7%
Polkadot 1.47% 2%
Uniswap Protocol Token 0.99% 2%
Bitcoin Cash 0.87% 2%
Litecoin 0.86% 2%
Chainlink 0.79% 2%
Source: MV Index Solutions. Data as end of June 2021.
12Treatment of Hard Forks*
A forked digital asset of an index constituent can be eligible for the index if it fulfills some rigorous
requirements that ensure quality:
— The fork should trade in at least one of the top tier exchanges.
— It should ensure accountability: Open source code, public developers engaged in project, premine information
as well as an announcement significantly prior to activation are among factors that ensure seriousness of the
fork. BCH
If eligible, a forked digital asset of an index constituent is added to the index as soon as the fork
becomes effective. The price of the forked asset is determined as follows:
— If the main net is available and the fork trades on at least one trading platform (not by futures), the (composite) BTG
price is used.
— Otherwise the price is 0. BTC
As soon as a price is available, the first available close (5:00 pm GMT) is used. BTCP
— In the multi component indices, the smallest coin by market capitalization will be deleted.
— In the single component indices, the forked coin will be deleted. Only in exceptional cases (e.g., no acceptance
for the old chain), MVIS may decide to keep the new chain and delete the old. BCD
— In all instances, the market capitalization of the deleted coin is reinvested in the index.
The new index composition is implemented after the second close after the first price is available.
*A hard fork occurs when a blockchain protocol is radically changed, such that it becomes incompatible with older versions. In effect, participants taking part in transactions on the old blockchain must upgrade to the
new one in order to continue validating transactions. However, participants that do not upgrade may continue to support and validate transactions on the older blockchain protocol separately. The result of this is that a
blockchain splits into two - hence the name ‘hard fork’. If there are nodes permanently supporting the new chain, then the two chains will co-exist. Users that once held digital assets on an older blockchain before the
protocol change at a pre-specified blockchain length will now also hold an amount of new coins on the altered blockchain. This new asset has essentially been derived from an older token as well as its associated
blockchain’s transaction history
13Treatment of Initial Coin Offerings (ICOs) Definition ICOs are a means to raise capital for a company’s business or project. In an ICO campaign, a percentage of the underlying digital asset (i.e., the initial coin) is sold to investors in exchange for U.S. Dollars or digital assets. Importantly, ICOs do not necessarily provide ownership in the company or the underlying venture or project MVIS’s Treatment of ICOs ICOs and non-component digital assets are added to the indices at the next review, provided they trade for at least ten days, and meet index selection and liquidity criteria set forth in the MVIS index rulebook 14
MVIS Index Family – licensed* products
Type Underlying Index AUM* (USD)
MVIS CryptoCompare Bitcoin Benchmark Rate 825.52
MVIS CryptoCompare Institutional Bitcoin 774.99
MVIS CryptoCompare Institutional Ethereum 391.33
Assets
Digital
MVIS CryptoCompare Ethereum Benchmark Rate 173.83
MVIS CryptoCompare Bitcoin VWAP Close 147.06
MVIS CryptoCompare Ethereum VWAP Close 56.81
Source: MV Index Solutions. Data as end of June 2021. * in mln USD
*A licence agreement is required to use indices, index data or trademarks for any commercial purpose, or for research and analysis, or for the issuance, launch, promotion or marketing of financial products such as exchange-
traded products, mutual funds, certificates, derivatives, swaps, bonds or OTC products linked to or based on MVIS Indices. The information provided here reflects the list of licensed indices with publically available assets
under management.
15MVIS Extended Index Family - calculated
Type Underlying Index Type Underlying Index
MVIS CryptoCompare Bitcoin MVIS CryptoCompare XRP
Assets
Digital
MVIS CryptoCompare Bitcoin Benchmark Rate MVIS CryptoCompare Zcash
MVIS CryptoCompare Bitcoin Cash Weiss MVIS Top Tech Adoption Rating
MVIS CryptoCompare Bitcoin VWAP Close
MVIS CryptoCompare Dash
MVIS CryptoCompare DeFi 20
MVIS CryptoCompare Digital Assets 10
MVIS CryptoCompare Digital Assets 100
MVIS CryptoCompare Digital Assets 100 Large-Cap
MVIS CryptoCompare Digital Assets 100 Mid-Cap
Digital Assets
MVIS CryptoCompare Digital Assets 100 Small-Cap
MVIS CryptoCompare Digital Assets 25
MVIS CryptoCompare Digital Assets 5
MVIS CryptoCompare Ethereum
MVIS CryptoCompare Ethereum Benchmark Rate
MVIS CryptoCompare IOTA
MVIS CryptoCompare LiteCoin
MVIS CryptoCompare Monero
MVIS CryptoCompare NEM
MVIS CryptoCompare NEO
MVIS CryptoCompare Polkadot VWAP Close
MVIS CryptoCompare Solana VWAP Close
MVIS CryptoCompare TRON VWAP Close
Source: MV Index Solutions. Data as end of June 2021.
16MVIS CryptoCompare Digital Assets 100 Index (MVDA)
A market cap-weighted index Components
Tracks the performance of the 100 largest digital assets
Top 5 Components
Benchmark/universe for the MVIS CryptoCompare Digital Assets Indices Bitcoin 48.38%
Contains three sub-indices (large, mid and small capitalization) Ethereum 18.51%
Tether 4.55%
Index history back to 31 December 2014
Binance Coin 3.29%
No liquidity screen
Cardano 3.16%
Other 22.11%
Liquidity
Top 5 Components Period Volume (USD)
Average 1 Month June Review 569,885,375
Weighted Average 1 Month June Review 9,430,159,775
20,000
15,000
Index Values (USD)
Fundamental Data
10,000
Index Performance Value Index Records Value
Year-to-Date Performance 62.25% All Time High/Low 18,209 / 50
5,000
1-Year Performance 324.61% 52-Weeks High/Low 18,209 / 2,336
Since Inception 103.18% Quarter High/Low 18,209 / 6,387
0
Dec-14 Oct-15 Aug-16 Jun-17 Mar-18 Jan-19 Nov-19 Sep-20 Jun-21 Month High/Low 12,601 / 9,096
MVDA
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
17MVIS CryptoCompare Digital Assets 25 Index (MVDA25)
Top 25 components of MVIS® CryptoCompare Digital Assets 100 Index by size and Components
liquidity (excl. stable/pegged coins)
Top 5 Components
Investable
Bitcoin 23.18%
20% (capping factors are staggered from a maximum weight of 20% down to 4.5%.) Ethereum 15.77%
Liquidity screen: monthly average-daily-trading volume of at least Binance Coin 5.45%
USD 1 million at review Cardano 5.44%
Index history back to 31 December 2014 Dogecoin 4.55%
Other 45.61%
Liquidity
Top 5 Components Period Volume (USD)
Average 1 Month June Review 1,030,087,621
Weighted Average 1 Month June Review 4,782,686,225
33,000
24,750
Index Values (USD)
Fundamental Data
16,500
Index Performance Value Index Records Value
Year-to-Date Performance 143.10% All Time High/Low 31,386 / 39
8,250
1-Year Performance 437.12% 52-Weeks High/Low 31,386 / 2,709
Since Inception 115.39% Quarter High/Low 31,386 / 6,294
0
Dec-14 Oct-15 Aug-16 Jun-17 Mar-18 Jan-19 Nov-19 Sep-20 Jun-21 Month High/Low 20,978 / 13,141
MVDA25 *Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
18MVIS CryptoCompare Digital Assets 10 Index (MVDA10)
Top 10 components of MVIS® CryptoCompare Digital Assets 100 Index by size and Components
liquidity (excl. stable/pegged coins)
Top 5 Components
Investable
Bitcoin 32.70%
30% maximum weight per constituent Ethereum 29.67%
Liquidity screen: monthly average-daily-trading volume of at least USD 1 million at Binance Coin 9.80%
review Cardano 9.39%
Index history back to 31 December 2014 Dogecoin 7.05%
Other 11.39%
Liquidity
Top 5 Components Period Volume (USD)
Average 1 Month June Review 2,575,219,054
Weighted Average 1 Month June Review 7,169,870,833
36,000
27,000
Index Values (USD)
Fundamental Data
18,000
Index Performance Value Index Records Value
Year-to-Date Performance 133.72% All Time High/Low 35,098 / 39
9,000
1-Year Performance 507.20% 52-Weeks High/Low 35,098 / 2,950
Since Inception 122.45% Quarter High/Low 35,098 / 7,988
0
Dec-14 Oct-15 Aug-16 Jun-17 Mar-18 Jan-19 Nov-19 Sep-20 Jun-21 Month High/Low 24,439 / 16,308
MVDA10
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
19MVIS CryptoCompare Digital Assets 5 Index (MVDA5)
Top 5 components of MVIS® CryptoCompare Digital Assets 100 Index by size and Components
liquidity (excl. stable/pegged coins)
Investable Top 5 Components
Bitcoin 37.90%
35% maximum weight per constituent
Ethereum 34.39%
Liquidity screen: monthly average-daily-trading volume of at least USD 1 million at Binance Coin 13.53%
review Dogecoin 9.73%
Index history back to 31 December 2014 Litecoin 4.46%
Liquidity
Top 5 Components Period Volume (USD)
Average 1 Month June Review 5,099,932,854
Weighted Average 1 Month June Review 8,179,530,094
42,000
31,500
Index Values (USD)
Fundamental Data
21,000
Index Performance Value Index Records Value
Year-to-Date Performance 103.53% All Time High/Low 39,391 / 47
10,500
1-Year Performance 452.98% 52-Weeks High/Low 39,391 / 3,567
Since Inception 125.73% Quarter High/Low 39,391 / 10,060
0
Dec-14 Oct-15 Aug-16 Jun-17 Mar-18 Jan-19 Nov-19 Sep-20 Jun-21 Month High/Low 26,602 / 17,909
MVDA5 *Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
20MVIS CryptoCompare Bitcoin Index (MVBTC)
The MVIS® CryptoCompare Bitcoin Index covers the performance of a digital assets Component
portfolio which invests in Bitcoin
Bitcoin 100.00%
Index history back to 31 January 2012
Bitcoin is a peer-to-peer digital asset and technology that operates with no central
authority or banks
Transactions and the issuing of Bitcoin is carried out collectively by the network Liquidity
Bitcoin is the first decentralized digital asset and has spawned tremendous evolution in Top 5 Components Period Volume (USD)
the digital asset space Average 1 Month June Review 6,350,767,524
Fundamental Data
Index Performance Value Index Records Value
Year-to-Date Performance 20.27% All Time High/Low 137,631 / 8
1-Year Performance 272.06% 52-Weeks High/Low 137,613 / 19,582
140,000
Since Inception 157.49% Quarter High/Low 137,631 / 63,619
Month High/Low 87,089 / 67,739
105,000
Index Values (USD)
Digital Asset Specifications
70,000
Max Supply Algorithm Proof Type
- SHA-256 PoW
35,000 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Jan-12 Apr-13 Jun-14 Aug-15 Oct-16 Dec-17 Feb-19 Apr-20 Jun-21 Network H/s Current Supply Block Reward
MVBTC - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
21MVIS CryptoCompare Bitcoin Cash Index (MVBCH)
The MVIS® CryptoCompare Bitcoin Cash Index covers the performance of a digital assets Component
portfolio which invests in Bitcoin Cash.
Bitcoin Cash 100.00%
Index history back to 31 August 2017
Bitcoin Cash (BCH) is a hard forked version of the original Bitcoin. It is similar to Bitcoin
with regards to its protocol:
— Proof of Work SHA-256 hashing Liquidity
— Max 21 million supply
— Same block times and reward system Top 5 Components Period Volume (USD)
Average 1 Month June Review 288,487,652
Fundamental Data
Index Performance Value Index Records Value
Year-to-Date Performance 47.52% All Time High/Low 6,761 / 181
1-Year Performance 136.78% 52-Weeks High/Low 3,785 / 503
7,000
Since Inception 5.97% Quarter High/Low 3,785 / 858
Month High/Low 1,787 / 1,098
5,250
Index Values (USD)
Digital Asset Specifications
3,500
Max Supply Algorithm Proof Type
- X13 PoW
1,750 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Aug-17 Feb-18 Aug-18 Feb-19 Jul-19 Jan-20 Jul-20 Dec-20 Jun-21
Network H/s Current Supply Block Reward
MVBCH - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
22MVIS CryptoCompare Dash Index (MVDASH)
The MVIS® CryptoCompare Dash Index covers the performance of a digital assets Component
portfolio which invests in Dash
Dash 100.00%
Index history back to 28 February 2014
DigitalCash (Dash) uses a new chained hashing algorithm approach, with many new
scientific hashing algorithms for the proof-of-work
Dash aims to be the first privacy-centric cryptographic currency with fully encrypted Liquidity
transactions and anonymous block transactions. (PrivateSend)
Top 5 Components Period Volume (USD)
PrivateSend mixes Dash coins with other users who are also using this feature making Average 1 Month June Review 68,661,698
transactions untraceable
Users can earn DigitalCash rewards by hosting a master node to help maintain the
blockchain. One must have a balance of at least 1000 DASH in order to host a Dash Fundamental Data
master node. This collateral is required to avoid 51% attacks on the network
Index Performance Value Index Records Value
Year-to-Date Performance 37.41% All Time High/Low 25,358 / 9
1-Year Performance 97.94% 52-Weeks High/Low 8,076 / 1,175
27,000
Since Inception 112.31% Quarter High/Low 8,076 / 1,612
Month High/Low 3,853 / 2,209
20,250
Index Values (USD)
Digital Asset Specifications
13,500
Max Supply Algorithm Proof Type
- Argon2d PoW/PoSe
6,750 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Feb-14 Jan-15 Dec-15 Nov-16 Oct-17 Sep-18 Aug-19 Jul-20 Jun-21 Network H/s Current Supply Block Reward
MVDASH - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
23MVIS CryptoCompare Ethereum Index (MVETH)
The MVIS® CryptoCompare Ethereum Index covers the performance of a digital assets Component
portfolio which invests in Ether.
Ethereum 100.00%
Index history back to 31 August 2015
Ethereum is a decentralized platform that runs smart contracts: applications that run
exactly as programmed without downtime, censorship, fraud or third party interference.
In the Ethereum protocol and blockchain there is a price for each operation. In order Liquidity
transfer or execute data on the network, you have to consume or burn gas.
Top 5 Components Period Volume (USD)
The digital asset underlying the Ethereum network is called Ether and is used to pay for Average 1 Month June Review 4,293,041,419
computation time and for transaction fees.
Fundamental Data
Index Performance Value Index Records Value
Year-to-Date Performance 189.86% All Time High/Low 34,879 / 3
1-Year Performance 832.71% 52-Weeks High/Low 34,879 / 1,895
36,000
Since Inception 260.34% Quarter High/Low 34,879 / 6,202
Month High/Low 23,820 / 14,817
27,000
Index Values (USD)
Digital Asset Specifications
18,000
Max Supply Algorithm Proof Type
- ETH Token PoW
9,000 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Aug-15 May-16 Feb-17 Nov-17 Jul-18 Apr-19 Jan-20 Oct-20 Jun-21 Network H/s Current Supply Block Reward
MVETH - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
24MVIS CryptoCompare IOTA Index (MVIOT)
The MVIS® CryptoCompare IOTA Index covers the performance of a digital assets Component
portfolio which invests in IOTA
IOTA 100.00%
Index history back to 31 July 2017
IOTA is an open-source distributed ledger protocol that goes 'beyond blockchain' through
its core invention of the blockless ‘Tangle’
The IOTA Tangle is a quantum-proof Directed Acyclic Graph, with no fees on Liquidity
transactions, no fixed limit on how many transactions can be confirmed per second in the
Top 5 Components Period Volume (USD)
network. Throughput grows in conjunction with activity in the network; the more activity,
the faster the network. Average 1 Month June Review 37,105,589
Unlike blockchain architecture, IOTA has no separation between users and validators.
Validation is an intrinsic property of using the ledger, thus avoiding centralization. IOTA is
Fundamental Data
initially focused on serving as the backbone of the emerging Internet-of-Things (IoT).
Index Performance Value Index Records Value
Year-to-Date Performance 168.66% All Time High/Low 18,929 / 401
1-Year Performance 255.75% 52-Weeks High/Low 9,507 / 846
36,000
Since Inception 32.46% Quarter High/Low 9,507 / 1,117
Month High/Low 5,180 / 2,733
27,000
Index Values (USD)
Digital Asset Specifications
18,000
Max Supply Algorithm Proof Type
- - -
9,000 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 00.01.1900 - -
Aug-15 May-16 Feb-17 Nov-17 Jul-18 Apr-19 Jan-20 Oct-20 Jun-21 Network H/s Current Supply Block Reward
MVETH - - -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
25MVIS CryptoCompare LiteCoin Index (MVLTC)
The MVIS® CryptoCompare LiteCoin Index covers the performance of a digital assets Component
portfolio which invests in LiteCoin.
LiteCoin 100.00%
Index history back to 30 September 2013
LiteCoin LTC - provides faster transaction confirmations (2.5 minutes on average) and
uses a memory-hard, script-based mining proof-of-work algorithm to target the regular
computers and GPUs most people already have - which are its main differences to Liquidity
Bitcoin.
Top 5 Components Period Volume (USD)
The coin was created by a Google employee, Charles Lee. LiteCoin is in second spot to
Bitcoin and has spawned numerous clones - however it has solid support and dedicated Average 1 Month June Review 424,175,781
development team.
Fundamental Data
Index Performance Value Index Records Value
Year-to-Date Performance 11.62% All Time High/Low 15,754 / 43
1-Year Performance 232.45% 52-Weeks High/Low 15,754 / 1,631
36,000
Since Inception 67.62% Quarter High/Low 15,754 / 4,805
Month High/Low 7,671 / 4,805
27,000
Index Values (USD)
Digital Asset Specifications
18,000
Max Supply Algorithm Proof Type
- ETH Token PoW
9,000 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Aug-15 May-16 Feb-17 Nov-17 Jul-18 Apr-19 Jan-20 Oct-20 Jun-21 Network H/s Current Supply Block Reward
MVETH - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
26MVIS CryptoCompare Monero Index (MVXMR)
The MVIS® CryptoCompare Monero Index covers the performance of a digital assets Component
portfolio which invests in Monero
Monero 100.00%
Index history back to 31 January 2015
Monero (XMR) is a cryptonight algorithm-based alternative digital asset. XMR is based on
Proof of Work and has a block reward that varies smoothly.
The difficulty retargets every block with a sixty second block target. Monero uses a Ring Liquidity
Signature system to protect privacy, allowing users to make untraceable transactions.
Top 5 Components Period Volume (USD)
Average 1 Month June Review 79,992,032
Fundamental Data
Index Performance Value Index Records Value
Year-to-Date Performance 35.13% All Time High/Low 16,846 / 8
1-Year Performance 230.59% 52-Weeks High/Low 18,846 / 2,134
36,000
Since Inception 179.50% Quarter High/Low 16,846 / 4,467
Month High/Low 10,446 / 6,668
27,000
Index Values (USD)
Digital Asset Specifications
18,000
Max Supply Algorithm Proof Type
- ETH Token PoW
9,000 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Aug-15 May-16 Feb-17 Nov-17 Jul-18 Apr-19 Jan-20 Oct-20 Jun-21 Network H/s Current Supply Block Reward
MVETH - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
27MVIS CryptoCompare NEM Index (MVXEM)
The MVIS® CryptoCompare NEM Index covers the performance of a digital assets Component
portfolio which invests in NEM
NEM 100.00%
Index history back to 31 March 2015
NEM (XEM) is a peer-to-peer crypto platform. It is written in Java and JavaScript with
100% original source code.
NEM has a stated goal of a wide distribution model and has introduced new features in Liquidity
blockchain technology in its proof-of-importance (POI) algorithm.
Top 5 Components Period Volume (USD)
NEM also features an integrated peer-to-peer secure and encrypted messaging system - Average 1 Month June Review 15,906,342
Multisignature accounts and an Eigentrust++ reputation system.
Fundamental Data
Index Performance Value Index Records Value
Year-to-Date Performance -37.83% All Time High/Low 44,710 / 2
1-Year Performance 183.16% 52-Weeks High/Low 19,852 / 1,013
46,000
Since Inception 148.52% Quarter High/Low 19,852 / 2,480
Month High/Low 4,989 / 2,480
34,500
Index Values (USD)
Digital Asset Specifications
23,000
Max Supply Algorithm Proof Type
- Argon2 PoI
11,500 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Mar-15 Jan-16 Oct-16 Aug-17 May-18 Feb-19 Dec-19 Sep-20 Jun-21
Network H/s Current Supply Block Reward
MVXEM - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
28MVIS CryptoCompare NEO Index (MVNEO)
The MVIS® CryptoCompare NEO Index covers the performance of a digital assets Component
portfolio which invests in NEO
NEO 100.00%
Index history back to 30 September 2016
NEO is a platform in which users can issue and trade assets. NEO has been rebranded
from the original 'Antshares‘.
NEO tokenizes proof of ownership of an asset and not the asset itself, thus taking into Liquidity
account all of the legal complications and obligations that may come with the transfer of
Top 5 Components Period Volume (USD)
shares, equity and assets.
Average 1 Month June Review 82,606,377
NEO represent an ownership of the NEO platform and allows users to buy NEO and to
vote on protocol changes on the NEO blockchain. NEOs are 100% pre-mined and issued
on the NEO's genesis block. Fundamental Data
Index Performance Value Index Records Value
Year-to-Date Performance 138.38% All Time High/Low 4,598 / 3
1-Year Performance 234.25% 52-Weeks High/Low 3,231 / 259
46,000
Since Inception 157.76% Quarter High/Low 3,231 / 384
Month High/Low 1,630 / 800
34,500
Index Values (USD)
Digital Asset Specifications
23,000
Max Supply Algorithm Proof Type
- Scrypt N/A
11,500 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Mar-15 Jan-16 Oct-16 Aug-17 May-18 Feb-19 Dec-19 Sep-20 Jun-21 Network H/s Current Supply Block Reward
MVXEM - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
29MVIS CryptoCompare XRP Index (MVXRP)
The MVIS® CryptoCompare XRP Index covers the performance of a digital assets Component
portfolio which invests in XRP
XRP 100.00%
Index history back to 31 January 2015
Ripple (XRP) is a distributed peer-to-peer network - transactions occur immediately
across the network. The network is resilient to systemic risk.
XRP is not mined - unlike Bitcoin and others. However, each transaction destroys a small Liquidity
amount of XRP which adds a deflationary measure into the system.
Top 5 Components Period Volume (USD)
Currently, there are 40 billion XRP Average 1 Month June Review 82,606,377
Fundamental Data
Index Performance Value Index Records Value
Year-to-Date Performance 204.50% All Time High/Low 22,591 / 29
1-Year Performance 273.48% 52-Weeks High/Low 12,996 / 1,250
24,000
Since Inception 82.30% Quarter High/Low 12,996 / 1,597
Month High/Low 7,447 / 4,174
18,000
Index Values (USD)
Digital Asset Specifications
12,000
Max Supply Algorithm Proof Type
- ETH Token N/A
6,000 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Jan-15 Nov-15 Sep-16 Jun-17 Apr-18 Jan-19 Nov-19 Sep-20 Jun-21 Network H/s Current Supply Block Reward
MVXRP - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
30MVIS CryptoCompare Zcash Index (MVZEC)
The MVIS® CryptoCompare Zcash Index covers the performance of a digital assets portfolio Component
which invests in Zcash
Index history back to 30 November 2016 Zcash 100.00%
Zcash (ZEC) is a privacy-driven digital asset. It uses the Equihash as an algorithm, which is an
asymmetric memory-hard Proof of Work algorithm based on the generalized birthday problem.
It relies on high RAM requirements to bottleneck the generation of proofs and making ASIC Liquidity
development unfeasible.
Top 5 Components Period Volume (USD)
Zcash uses zero-knowledge Succinct Non-interactive Arguments of Knowledge (zk-SNARKs)
to ensure that all information (sender, receiver, amount) is encrypted, without the possibility of Average 1 Month June Review 117,457,299
double-spending.
The only information that is revealed regarding transactions is the time in which they take
Fundamental Data
place.
Index Performance Value Index Records Value
Year-to-Date Performance 98.01% All Time High/Low 11,981 / 348
1-Year Performance 133.88% 52-Weeks High/Low 5,063 / 741
12,500
Since Inception 13.55% Quarter High/Low 5,063 / 855
Month High/Low 2,536 / 1,468
9,375
Index Values (USD)
Digital Asset Specifications
6,250
Max Supply Algorithm Proof Type
- X11 PoW
3,125 Difficulty Adj. BlockRR. BlockNo.
- - -
Start Date Twitter Website
0 01.01.2001 - -
Nov-16 Jun-17 Jan-18 Aug-18 Mar-19 Oct-19 May-20 Dec-20 Jun-21 Network H/s Current Supply Block Reward
MVZEC - 0 -
*Performance since inception is annualized
Source: MV Index Solutions. Data as end of June 2021.
31Leadership Team
Steven Schoenfeld joined MVIS as CEO following its acquisition of BlueStar Indexes in August of 2020. Steven was the Founder and Chief Investment
Officer of BlueStar which maintained a family of indexes for Global Technology Stocks and Israeli Equities & Bonds. Steven is a 36-year veteran of the
investment management industry, having served in senior fiduciary positions at Northern Trust, where he oversaw more $300 billion in quantitatively-
managed global equity and fixed income portfolios, and at Barclays Global Investors (now Blackrock), where he managed more than $70 billion in
developed and emerging market stock index fund and ETFs. Previously, he led the team at IFC/World Bank which developed the first investable
Emerging Market indexes, and traded Japanese stock index futures on the floor of the Singapore Exchange.
Steven is the author of Active Index Investing (Wiley Finance, 2004), co-author of The Pacific-Rim Futures and Options Markets (McGraw-Hill, 1992),
Steven Schoenfeld and co-founder of IndexUniverse.com (now ETF.com). He has a BA in History and Government from Clark University, was a Fulbright Scholar in
CEO Economics at the National University of Singapore, and has an MA from the Johns Hopkins School of Advanced International Studies (SAIS).
Thomas Kettner is COO at MV Index Solutions with global responsibility for the company's index business. He is an index expert with more than fifteen
years of experience in the development and maintenance of indices, with a focus on the development of indices designed for financial products. He is
supported by a team of index specialists with an average of five years of experience in index development, maintenance and marketing. Prior to joining
MVIS in 2012, Mr. Kettner held various positions at leading index providers such as Dow Jones Indexes and STOXX Ltd.
Mr. Kettner holds a degree in Economics from the University of Konstanz, Germany, and is a CIIA graduate.
Thomas Kettner
COO
Torsten Hunke joined MV Index Solutions in 2014 to support the firm's index business as the European Legal Counsel and has served as Managing
Director since 2016. He has more than 15 years of experience as international banking regulatory and investment fund lawyer. Prior to joining MVIS, Mr.
Hunke worked as a Director at Credit Suisse where he was responsible for the EMEA Asset Management Legal Department and for the legal affairs of
Credit Suisse's two German investment companies. Earlier career milestones include positions at the Global Depositary Department at Deutsche Bank AG
and the investment funds and banking regulatory department at Linklaters in Frankfurt and London.
Mr. Hunke is an attorney at law and a member of the German Bar Association. He studied law at the Universities of Hannover, Brandenburg, and Le Havre
Torsten Hunke (France).
Managing Director
32Global Contacts
Map Source: Wikimedia Commons
San Francisco
Joe Levin,
Global Head of Business Development & Strategy
New York
Steven Schoenfeld, CEO
Joshua Kaplan,
Global Head of Research & Investment Strategy
Joy Yang,
Global Head of Index Product Management
Frankfurt Tel Aviv
Thomas Kettner, COO Tzlill Keren Blum, EMEA Representative
Etem Emre Çamlilar,
Global Head of Index Operations
Frankfurt Office New York Office Sales Team Support Team Media Relations and Marketing
Kreuznacher Str. 30 1350 Avenue of the Americas, Fl 2 MVIS-Sales@mvis-indices.com index-support@mvis-indices.com Eunjeong Kang,
60486 Frankfurt am Main New York, NY 10019 Marketing/Data Associate
Germany (646) 380 2500 +49 69 4056 695 38
+49 (69) 4056 695 55 media-enquiries@mvis-indices.com
info@mvis-indices.com
33Important Disclosure Copyright © 2021 by MV Index Solutions GmbH (“MVIS”). All rights reserved. MVIS, BlueStar and BlueStar Indexes is a registered trademark of Van Eck Associates Corporation that has been licensed to MV Index Solutions GmbH. Redistribution, reproduction and/or photocopying in whole or in part are prohibited without written permission. All information provided by MVIS is impersonal and not tailored to the needs of any person, entity or group of persons. MVIS receives compensation in connection with licensing its indices to third parties. You require a license from MVIS to launch any product that is linked to an MVIS index to use the index data for any business purpose and for all use of the MVIS name or name of the MVIS index. Past performance of an index is not a guarantee of future results. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments based on that index. MVIS does not sponsor, endorse, sell, promote or manage any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. MVIS makes no assurance that investment products based on the index will accurately track index performance or provide positive investment returns. MVIS is not an investment advisor, and it makes no representation regarding the advisability of investing in any such investment fund or other investment vehicle. A decision to invest in any such investment fund or other investment vehicle should not be made in reliance on any of the statements set forth in this document. Prospective investors are advised to make an investment in any such fund or other vehicle only after carefully considering the risks associated with investing in such funds, as detailed in an offering memorandum or similar document that is prepared by or on behalf of the issuer of the investment fund or other vehicle. Inclusion of a security within an index is not a recommendation by MVIS to buy, sell, or hold such security, nor is it considered to be investment advice. These materials have been prepared solely for informational purposes based upon information generally available to the public from sources believed to be reliable. No content contained in these materials (including index data, ratings, credit-related analyses and data, model, software or other application or output therefrom) or any part thereof (Content) may be modified, reverse-engineered, reproduced or distributed in any form by any means, or stored in a database or retrieval system, without the prior written permission of MVIS. The Content shall not be used for any unlawful or unauthorized purposes. MVIS and its third-party data providers and licensors (collectively “MVIS Indices Parties”) do not guarantee the accuracy, completeness, timeliness or availability of the Content. MVIS Indices Parties are not responsible for any errors or omissions, regardless of the cause, for the results obtained from the use of the Content. THE CONTENT IS PROVIDED ON AN “AS IS” BASIS. MVIS INDICES PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM BUGS, SOFTWARE ERRORS OR DEFECTS, THAT THE CONTENT’S FUNCTIONING WILL BE UNINTERRUPTED OR THAT THE CONTENT WILL OPERATE WITH ANY SOFTWARE OR HARDWARE CONFIGURATION. In no event shall MVIS Indices Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the Content even if advised of the possibility of such damages 34
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