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HomeMarketsMarket AnalysisXRP Ranks Among Top Three in Global Index Provider STOXX Ltd

XRP Ranks Among Top Three in Global Index Provider STOXX Ltd



Abdulkarim Abdulwahab

Data shows that XRP is a significant component of the STOXX Digital Asset Blue Chip Index firm under European regulations and a global index by leading index provider STOXX Ltd.

The prominent firm disclosed the composition of XRP and other crypto assets in the index in its latest review. For context, the STOXX Digital Asset Blue Chip Index represents high-quality crypto assets that reflect the current crypto scene.

It selects blue-chip assets based on high quality, activity, robustness, and financial strength using crypto-specific metrics and a multi-step selection process aligned with the Bitcoin Suisse Global Crypto Taxonomy.

This index covers four of five crypto sectors that represent 98% of the market’s $2 trillion cap.  It ensures diversification through weight caps and employs sector segmentation for precise benchmarking.

Notably, the weighted subsectors included payment coins, where XRP and Bitcoin were featured, and others in layer-1, data, and credit sectors. 

XRP Ranks Third in the Weighted Basket

According to STOXX’s latest quarterly review, the top five crypto assets in the STOXX Digital Asset Blue Chip Index are Bitcoin, Ethereum, XRP, Cardano (ADA), and Tron (TRX).

XRP represents 11.71% of the index, trailing Bitcoin and Ethereum, which both command the capped weight of 30%. Meanwhile, ADA and TRX take up market shares of 8.44% and 5.64%, respectively.

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Essentially, XRP ranks third in the weighted basket of digital assets available for institutional investment.

STOXX Crypto Index Weighting
STOXX Crypto Index Weighting

The composition of XRP in the STOXX Digital Asset Blue Chip Index has sparked significant optimism among community members, who see it as a bullish development.

Notably, STOXX offers an extensive portfolio of more than 17,000 indices, including notable equity indices such as the STOXX Europe 600 and EURO STOXX 50. These indices are utilized by upwards of 550 companies globally for benchmarking purposes.

Moreover, they serve as the basis for various financial products, including ETFs, futures, options, structured products, and passively managed investment funds. STOXX administers these indices under the European Benchmark Regulation (EU BMR).

As of last December, XRP weighed over 10% of Valour’s Digital Asset Basket 10 index (VDAB10) in the European market. However, updated records show that this weight has significantly reduced, with Solana (SOL) overtaking XRP in the index.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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