A year after the FTX issue, Solana bounced back with a remarkable 71% return in just October, thanks to a network upgrade attracting developers. Bitcoin also performed well, with a 27% gain in October and a total 68% increase in the past year, driven by the demand for "digital gold" and hopes for a US Bitcoin ETF. Interestingly, Gold and Ether had similar performances in October.
In October, TRXESG stole the spotlight with an impressive 27% increase in its value, thanks to its investments in Cardano (ADA) and Solana (SOL). It wasn’t alone in its success — all the indexes launched by Vinter delivered positive returns this month, with the entire cryptocurrency market seeing an 18.5% appreciation.
Among these indexes, VNMC5, a straightforward top 5 market cap-weighted index, has emerged as the standout performer over the last 12 months. Meanwhile, HAAM, which had previously allocated its entire weight to US T-bills over the past 3 months, made a notable shift in its investment strategy at the end of October. It transitioned to Bitcoin (BTC) and Ethereum (ETH) due to their strong positive momentum, signaling a bullish trend is on the horizon.
Here is a short description of each index in the table, with links to the relevant methodology.
- VNMC10: Vinter Top 10 market cap weighted.
- VNEQ10: Vinter Top 10 equal weighted.
- VNEQ5: Vinter Top 5 equal weighted.
- VNMC5: Vinter Top 5 market cap weighted.
- HODLX: Top 10 market cap weighted.
- HODLV: Top 5 equal weighted.
- ALTS: Top 10 excl. the largest two assets, market cap weighted.
- MOON: Top 10 layer 1 assets weighted by Github, Social, and market data.
- BOLD1: Bitcoin and gold, equal risk weighted.
- VDAB10: Top 10 capped market cap weighted.
- VTRXBC: Top 10 smart contract platforms, market cap weighted.
- PANDO6: Top 6 weighted by the square root of market cap.
- DDV30: Top 30 market cap weighted.
- VHASHMOM: Top 12 by market cap weighted by their momentum score times their risk parity score.
- STAKE: Top 10 of the largest staking protocols by current market capitalization including staking rewards.
- BTCC: Bitcoin Covered Call, go long BTC and write an out-of-the-money call option.
- KVQ: Equal-weighted index selecting high-quality assets from an investor perspective among the top 30 by market cap.
- TRXESG: Top 10 ESG-rated assets, current market cap-weighted with a maximum weight of 25%.
- GXMC: Top 2 by 90 days average market capitalization, equally weighted.
- GXLC: Top 5 by 90 days average market capitalization, current market cap-weighted with a maximum weight of 40%.
- GXMDC: Top 10 by 90 days average market capitalization starting from the asset ranked #3, current market cap-weighted with a maximum weight of 40%.
- VCFMOM: Selects assets from the Top 15 by current market capitalization and weighs them according to a combination of their on-chain activity and the price momentum.
- VCFWB3: Selects as many assets driving WEB 3.0 that can be listed, and weighs them by their Asset Score which is a linear combination of market capitalization, momentum, and social media interest.
- VVTOP10: Top 10 by 30-day average market capitalization, current market cap-weighted with a maximum weight of 40%.
- HAAM: Selects Bitcoin and Ether when their combined price momentum is positive otherwise allocates everything to American T-bills via the NEOS Enhanced Income Cash Alternative ETF. When BTC and ETH are selected, their weights are dictated by a combination of their MVRV ratio.
The reference rates (“Ref rate”) are calculated using Vinter’s single-asset reference rate methodology.
