Hong Kong HKVAC Expands Cryptocurrency Indexes to Include XRP, Hedera, Maker, and Quant

Crypto New– Hong Kong’s reputable rating agency, HKVAC, has made significant updates to its key indexes, incorporating Hedera (HBAR), Maker (MKR), and Quant (QNT) while making XRP a prominent addition to the top crypto indexes, effectively replacing Circle’s USD Coin (USDC) stablecoin. Simultaneously, HKVAC has opted to remove certain crypto assets, such as Cryptonex, ICP, and HEX, from its large market cap indexes.

Hong Kong HKVAC Expands Cryptocurrency Indexes to Include XRP, Hedera, Maker, and Quant

These notable adjustments were officially disclosed on October 13 by HKVAC, revealing the outcomes of the rebalancing process for the HKVAC Key Indexes and HKVAC Market Indexes. The effective date for all these modifications is scheduled for October 20.

The top five global cryptocurrency indices now encompass BTC, ETH, USDT, BNB, and XRP. The original USDC has been substituted with XRP in both the HKVAC Cryptocurrency Global Large Top5 Index and the HKVAC Cryptocurrency Global Large Top5 Equal Weight Index.

XRP’s ascent to a prominent position in the crypto market indexes appears to align with recent developments in the ongoing U.S. SEC v. Ripple Labs lawsuit. Notably, Judge Torres declined the SEC’s motion to file an interlocutory appeal, marking another legal victory for the XRP community.

Furthermore, HKVAC has introduced Hedera and Maker into the HKVAC Cryptocurrency Global Large Market Cap Index, replacing Cryptonex (CNX) and Internet Computer (ICP). The total number of constituents in this index will remain unaltered at 30.