BACIX 100 is a rules-based index designed to objectively measure the overall long-term and short-term dynamics of cryptocurrency market. This is achieved by real-time tracking 100 cryptocurrencies that had the largest market capitalization as of 1 January 2019. BACIX 100 index serves as a tool for passive investors to participate in this asset class, and as an industry benchmark for investment managers.

 

To achieve its objectives BACIX 100 has been designed with 5 main characteristics:

  1. BACIX 100 is diversified;
  2. BACIX 100 is replicable;
  3. BACIX 100 is transparent;
  4. BACIX 100 provides in-depth coverage of the entire cryptocurrency sector;
  5. BACIX 100 presents the best risk-adjusted performance profile possible.
Current value BACIX 100: ( in 24 hours )

BACIX 100 - Methodology

BACIX 100 is objectively constructed basing on transparent rules.

By its nature, BACIX 100 is an equally weighted index. In its construction, the same methodology is used as in the construction of the S&P 500 Equal Weighted, ÖkoDAX indices. Equally weighted BACIX 100 index is constructed according to the formula:

where: Pi – is a price of 1 unit of cryptocurrency in USD;
Ni – number of cryptocurrency units, used to construct an index;
D – index divider.

 

The number of units of each cryptocurrency Ni is chosen in such way, that the weight of each cryptocurrency in the total market capitalization was the same:

where:
Pi – is a price of 1 unit of cryptocurrency in USD;
Si – total number of cryptocurrency units circulating in supply.

Herein, following equation should be held true:
Pi * Ni = const
For all values i = 1,2,3,…,100.

BACIX 100 - Attributes

Transparent. BACIX 100 - is an open, published, rules-based, equally weighted index of the top 100 cryptocurrencies. The value of the BACIX 100 index can be reproduced at any time by an independent third party, basing on public methodology and available public data.

Innovative methodology. Launched on 1 January 2019, BACIX 100 is a professional cryptocurrency index and is designed to adapt as the market evolves. It follows industry-standard rules of index construction similar to that of the S&P 500 Equal Weighted, ÖkoDAX, as modified to address the unique characteristics of the cryptocurrency market.

Accurate and practical. BACIX 100 Index is designed to represent its constituent underlying cryptocurrencies as accurately as possible and providing a practical analytical tool to crypto currency market participants.

Current. BACIX 100 index is calculated continuously in real time. Since 29 January 2019, BACIX 100 current values are provided with 5 minutes discretization.

Three goals. BACIX 100 index strives at all times to be objective, replicable and transparent.

Investment Limitations. There is no mechanism to invest in BACIX 100 index directly at the time of publication of this documentation. However, in 2019 Binapex Ltd. plans to open trades performed with financial instrument derived from BACIX 100. Also, other companies may design derivative financial instruments which mirror the performance of the BACIX 100 index. No warranty is given as to the ability of such instruments to successfully mirror the movements of the BACIX 100 index.

BACIX 100 – Provider

Binapex Ltd, a limited liability company, registered in the Seychelles, and its staff provide logistic support for, conduct the calculations required of and make determinations necessary to carry out the goals and intent of all aspects of the BACIX 100 index.