CME launches crypto indexes tracking XRP, SOL, HYPE and other altcoins

CME Group has launched two multi-asset cryptocurrency benchmarks, including a 10-token index that leaves out Bitcoin and Ether and tracks assets such as BNB, XRP, Solana and Hyperliquid.

Summary

• CME launched two crypto benchmarks, including a 10 token index that excludes Bitcoin and Ethereum.
• The Emerging Crypto Index tracks BNB, XRP, SOL, HYPE, LINK, XLM, SUI, UNI, AVAX and AAVE.
• Both indexes use free float market cap weighting and are reviewed twice a year in June and December.
• Real time index values are calculated every second, while daily settlement versions are published across three regions.
• The benchmarks can be licensed for investment funds and derivatives, extending CME's push into multi asset crypto products.

According to CME Group's index documentation, the CME CF Emerging Crypto Index and CME CF Crypto Market Index went live Monday, giving market participants separate measures for large crypto assets outside Bitcoin and Ether and for the crypto market including the two largest cryptocurrencies.

The Emerging Crypto Index contains BNB, XRP, Solana, Hyperliquid, Chainlink, Stellar Lumens, Sui, Uniswap, Avalanche and Aave. Bitcoin and Ether are excluded by design, leaving the index focused on 10 of the largest qualifying crypto assets outside the two market leaders.

Its companion Crypto Market Index tracks 12 assets. It uses the same 10 tokens but includes Bitcoin and Ether, creating a separate benchmark for measuring the large-cap crypto market with BTC and ETH included.

CME crypto indexes provide real-time and daily benchmarks

CME calculates real-time versions of both indexes every second and operates them 24 hours a day, according to the exchange's FAQ. Separate settlement versions are calculated once each day and published at 4 p.m. in London, New York and Singapore/Hong Kong.

Both benchmarks use free-float market capitalization to determine constituent weights. Under the system, cryptocurrencies with a higher market value of tokens considered available for trading receive a larger share of the index.

CME plans to review the baskets twice a year. Reconstitution and rebalancing take place on the first business day of June and December, allowing the constituent lists and their weights to change as qualifying assets move in market value.

The Emerging Crypto Index specifically seeks the 10 largest assets that meet its requirements after Bitcoin and Ether are removed from consideration. The Crypto Market Index targets 12 qualifying cryptocurrencies while keeping BTC and ETH eligible.

Eligibility goes further than market capitalization. Under the emerging index methodology, an asset must meet custody requirements, while meme coins are excluded. CME applies a protocol-use test based on total value locked relative to fully diluted market capitalization.

The methodology contains a separate provision for newly eligible assets when an index is first created. Cryptocurrencies that do not yet qualify under U.S. national stock exchange generic listing standards for crypto exchange-traded products can still enter if they are expected to comply within 30 days.

Such assets are limited to a combined maximum weight of 10% at inception. During later scheduled reviews, constituents are required to meet the generic listing standards in force at the time.

Emerging Crypto Index is designed for financial products

The Emerging Crypto Index was built to be investible and capable of supporting passive replication by funds, according to its methodology. It can serve as a settlement benchmark for derivatives, giving the index a potential role beyond measuring spot crypto prices.

CF Benchmarks lists the emerging index as available for licensing for financial products, investment funds and derivatives. The Crypto Market Index carries the same licensing option.

CME has already used a multi-token benchmark as the settlement basis for listed crypto derivatives.

As crypto.news previously reported, the exchange launched crypto index futures in June that give traders exposure to eight cryptocurrencies through a single cash-settled contract.

Trading in the Nasdaq CME Crypto Index futures began June 8. The underlying basket contained Bitcoin, Bitcoin Cash, Ether, Solana, XRP, Cardano, Chainlink and Stellar Lumens when the contracts were introduced.

The standard futures contract trades under the NCI ticker and represents $10 multiplied by the index value, while the micro MCI contract is sized at $1 times the index. Both settle against the Nasdaq CME Crypto Settlement Price Index instead of requiring delivery of the underlying cryptocurrencies.

Before trading began, CME described the product as its first market-cap-weighted cryptocurrency futures contract when it announced the planned June launch in May.

The two benchmarks introduced Monday are separate index families from the Nasdaq CME benchmark used by those futures. Their methodologies and constituent baskets differ, with the Emerging Crypto Index specifically removing Bitcoin and Ether from its eligible universe.

CME has expanded regulated altcoin products in 2026

CME's crypto derivatives lineup has moved further into individual altcoins during 2026, placing several assets now represented in the new indexes within its existing regulated market infrastructure.

In May, the exchange introduced Avalanche and Sui futures, adding two assets that now sit inside both of the new CME CF index baskets.

Standard Avalanche futures were launched with a contract size of 5,000 AVAX, accompanied by micro contracts representing 500 AVAX. Sui contracts were sized at 50,000 SUI, while their micro versions represented 5,000 tokens.

Those products joined existing CME futures tied to Bitcoin, Ether, Solana, XRP, Cardano, Chainlink and Stellar. The exchange had progressively added single-asset contracts as its cryptocurrency derivatives business moved past its original Bitcoin and Ether products.

Access to the crypto derivatives market changed again at the end of May when CME moved crypto trading to 24/7 on its regulated platform.

More than 7,200 cryptocurrency futures and options contracts changed hands during the first weekend after continuous trading started May 29, generating roughly $50 million in notional volume.

The schedule covers CME's cryptocurrency futures and options while retaining brief maintenance periods. The change brought trading hours closer to the continuous operation of underlying crypto spot markets and removed the regular weekend closure that had previously separated CME trading from round-the-clock cryptocurrency markets.

CME's two new index families operate continuously as well, with their real-time benchmarks updating once per second across the full 24-hour day. Their settlement versions provide fixed daily reference points across London, New York and Singapore/Hong Kong, while constituent eligibility and weighting are reassessed during the June and December reviews.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.