Coin Metrics, a leading provider of cryptocurrency financial insights, has announced the reinstatement of XRP to its CMBI 10 Index. This decision comes after a comprehensive evaluation confirmed that XRP meets the investability requirements outlined in the CMBI Multi-Asset Methodology. The inclusion of XRP in the index will take effect during the June review.
The reintroduction of XRP to the CMBI 10 Index was brought to attention by a prominent figure in the XRP community, WrathofKahneman, in a post on X. The CMBI 10 Index tracks the expected performance of an investor who invests in a diversified group of cryptocurrencies, weighted based on their market capitalization. It includes the top 10 large-cap cryptocurrencies, including XRP, selected based on their projected market cap for the next decade.
Furthermore, the CMBI 10 Index gathers price data from leading global trading platforms that adhere to its market selection framework.
Initially, Coin Metrics removed XRP from the CMBI 10 Index in 2021 due to concerns about its investability following the SEC’s lawsuit against Ripple Labs. The delisting was influenced by the suspension of XRP trading on prominent exchanges such as Bitstamp, Coinbase, Binance.US, and Bittrex. Coin Metrics noted that these actions made it difficult for US investors to access XRP markets, impacting the investability of CMBI multi-asset products.
However, XRP achieved victory in the SEC lawsuit in July 2023, leading to relisting actions by American exchanges, including Coinbase. Despite this, Coin Metrics took ten months after the lawsuit victory to reinstate XRP, unlike Grayscale, which swiftly reinstated XRP in January after removing it from its GDLC following the initial wave of delistings by US exchanges.
Coin Metrics’ announcement of the re-inclusion of XRP coincides with the return of XRP trading to crypto enthusiasts in New York.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The author’s opinions expressed in this article do not reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.
