The stock market is an old and mature market in India but crypto is just started. Its like a baby which is just growing with each passive day and even a major chunk of people are not aware of it. Certainly crypto is one of the markets which is a bit difficult to understand and to make it easy there must be some initiative to spread awareness. When we have more crypto awareness then we can surely see more people getting onboarded but we should have better things available to make them aware and also to have a track on leading crypto coins.
India has finally got its first crypto index and this is something that will help millions of investors in the country. This crypto index is called IC15 and it has 15 leading crypto coins on the list.
IC15 is the first index in India that can act as a benchmark of the cryptocurrency market and the performance benchmark for fund managers for creating index-linked products like index funds, ETFs, etc. Insights of crypto mining. Presenting an easy solution to follow for having a diversified portfolio.
This is the first-ever crypto index that has been launched this year and it has 15 coins on the list. This index will help the investors to review the market and even this index will be reviewed every quarter. It has bitcoin on the top followed by ethereum with over 25% and bitcoin has over 75% of the stake.
So two coins only have taken more than 75% of the index part in remaining which is 24%, 13 coins are added with different percentage. It also has mem coins like Doge and Shiba Inu because both coins carry a significant market cap so we can't ignore these coins.
This index will help investors and crypto enthusiasts to monitor the performance of these coins. All these are top coins as per the market cap and are surely a good choice for many investors. Like we have many indexes in stocks so in the same way now there is an index for crypto. The index makes asset performance tracking easy and rather than going many coins, we can measure it just by going through the index. Its a good sign that now things are improving and bringing more ease for investors as we get with traditional markets.
Somewhere I feel like things are building up in a positive way and these will also contribute to crypto regulation. Even though we seek and expect regulation to happen soon but in the meantime having such things are good.
It may be noted that the IC15 index comprises a governance committee (IGC) that includes domain experts, industry practitioners as well as academicians. They will be in charge of monitoring and maintaining the index, including reshuffling of the top 15 cryptos.
Although I follow my own way of investing however I am sure there are many people who would be using the index to determine if they need to invest or not. Especially for the new investors, this will help and this list will be shuffled upon review whenever required depending upon market performance and sentiments. The market is driven by supply and demand and there are ways to read the sentiments but we just can't predict it completely so surprises can happen anytime.