CME Launches New Crypto Indexes Excluding Bitcoin and Ethereum

CME Group officially launched two multi-asset crypto benchmark indexes on Monday: one covering a broad market, and an "emerging crypto index" specifically measuring large-cap crypto assets beyond Bitcoin and Ethereum. The CME CF Emerging Crypto Index excludes Bitcoin and Ethereum, tracking 10 assets: BNB, SOL, XRP, HYPE, LINK, XLM, SUI, UNI, AVAX, and AAVE. The CME CF Crypto Market Index includes Bitcoin and Ethereum on top of those 10 assets. Both indexes use free-float market cap weighting, with semi-annual constituent reviews and rebalancing. The real-time version is calculated every second and operates around the clock; the settlement version is calculated daily and published at 4:00 PM London, New York, and Singapore/Hong Kong time. The emerging index methodology requires constituents to be eligible for custody, excludes meme coins, and applies a protocol usage screen based on the ratio of total value locked to market capitalization. At initial inclusion, assets that do not yet meet the general listing standards for crypto ETFs on U.S. national securities exchanges but are expected to comply within 30 days may be included with a combined maximum weight of 10%. The index is designed for investability, suitable for passive fund replication and derivatives settlement, following CME's precedent of launching Nasdaq CME crypto index futures in June. CF Benchmarks stated that the emerging index may be licensed for use in financial products, investment funds, or derivative instruments.