Litecoin Returns to Bitwise Large-Cap Indices
Updated: Nov 3, 2022
After being excluded briefly, Bitwise announced that Litecoin has re-entered the Bitwise 10 Large Cap Crypto Index (BITW) and the Bitwise 10 ex Bitcoin Large Cap Crypto Index.
Compared to the September 2022 month-end reconstitution, Chainlink was removed from the top 10 index and replaced by Litecoin. With this monthly reconstitution, Litecoin stands as a unique addition to the index, being the only crypto to include native privacy.
Within the Bitwise 10 ex Bitcoin Large Cap Crypto Index, Litecoin now stands alone as the only proof-of-work cryptocurrency. Bitcoin Cash was previously in the large cap index, but hasn't returned since its last appearance in May 2022.
The Bitwise methodology for choosing the above indices states it "captures the 10 largest eligible crypto assets by free-float-adjusted market capitalization." Among the eligibility requirements for inclusion, an asset must have no significant downtime, withdrawal, or known security issues. Additionally, it must account for more than 0.1% of the combined trailing 30-day dollar trading volume of all otherwise eligible crypto assets.
Bitwise recognizes Litecoin's reliability, security, and trading volume.