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Results of the ixCrypto Index Series Quarterly Review (2025 Q1)
1. Constituent Review – ixCrypto Index Series
1.1 ixCrypto Index (“IXCI”)
The number of constituents will decrease to 18 constituents with 1 addition and 2 deletions.
Addition
- Hedera
Deletions
- Pepe
- Near Protocol
After the change, the free float adjusted market capitalization coverage is 83.10%*, while the 90-day-average volume is 74.47%* (excluding stable coin which has 6.65% of the total crypto universe). The constituents change above and recapping at 40% will be effective on 18 April 2025 (Friday).
Since the last review, there has been an increase in the crypto total market capitalization from USD2.89tn to USD3.14tn (+8.65%)#, and a decrease in the daily volume from USD152.20bn to USD122.17bn (-19.73%)#. Bitcoin remains as the largest crypto in the constituent list, with its price has decreased by 11.13% since the last review.
1.2. ixCrypto Portfolio Indexes
1.2.1 ixCrypto 5 Equal Weight Index (“IXEW5”) and ixCrypto 5 Square Root Index (“IXSR5”)
Additions
No addition
Deletions
No deletion
1.2.2 ixCrypto 10 Equal Weight Index (“IXEW10”) and ixCrypto 10 Square Root Index (“IXSR10”).
Additions
- Chainlink
- Stellar
Deletions
- Toncoin
- Shiba Inu
1.2.3 ixCrypto Altcoin 10 EW Index (“IXAEW10”) and ixCrypto Altcoin 10 SR Index (“IXASR10”).
Additions
- Stellar
- Sui
Deletions
- Toncoin
- Shiba Inu
1.3. ixCrypto BTC/ETH Indexes
As of 31st March 2025, the market capitalization represented by the two indexes IX Bitcoin Index (IXBI) and IX Ethereum Index (IXEI) in ixCrypto BTC/ETH 5050 Index (“IX5050”) was 56.20%/43.80% respectively, a change from 43.69%/56.31% from 31st December 2024. The weight of IXBI & IXEI within IX5050 will be adjusted back to approximately 50%/50% respectively (estimated using 31st March 2025 prices), at the effective date.
As of 31st March 2025, the market capitalization represented by the two indexes IXBI and IXEI in ixCrypto BTC/ETH Proportional Index (“IXPI”) was 56.20%/43.80% respectively.
The new weight of IXBI and IXEI within the IXPI will be adjusted back to approximately 88.23/11.77% (estimated using 31st March 2025 prices) to restore their relative weight in the cryptocurrencies market at the effective date.
2. Constituent Review- IX Digital Asset Industry Index Series
2.1 ixCrypto Stablecoin Index
The number of constituents will decrease to 4 with no addition and 1 deletion. Stablecoin comprises 6.65% of the total crypto universe, and ixCrypto Stablecoin Index covers around 98.64% of the 90-day average market capitalization in stablecoin universe.
Addition
No addition
Deletion
- First Digital USD
2.2 ixCrypto Infrastructure Index
The number of constituents will remain unchanged at 23 with no addition and no deletion.
Additions
No addition
Deletion
No deletion
3. Exchange Review
As a result of exchange review, 8 exchanges passed the review process, which are as follows:
- Binance
- Bybit
- Coinbase Advanced
- OKEX
- Gate.io
- Bitrue
- Bitget
- Whitebit
Removed Exchanges
- Upbit
- DigiFinex
The selected 8 exchanges will be taken to generate each of the fair average prices for the IX Aaia indexes’ constituents. The exchange review covers volume rankings, exchange background checking, founders’ background checking, USD/USDT/USDC/BTC pairs coverage, overconcentration rules, exchange API coverage checking and stability etc for an exchange.
For more details about our exchange selection criteria, please email [email protected]
More details about the ixCrypto index, including their constituents, constituents’ weight are provided in the Appendices, or refer to the website https://ix-index.com/
*Exclude stable coins and exchange coins (based on conflict-of-interest rule methodology effective Oct 2, 2020)
#As of 31st March 2025, based on past 90 days average
Appendix 1
| Universe | All crypto coins traded in at least two different exchanges around the world |
| Selection Criteria | Cryptocurrencies ranking in the top 80% of cumulative full market capitalization (“MC”) coverage and within an acceptable range in accordance with the Volume Buffer Rule in terms of 90-day average trading volume |
| Number of Constituents | Variable/18 in Q1 2025 |
| Launch Date | 12th December 2018 |
| Base Date | 3rd December 2018 |
| Base Value | 1,000 |
| Reconstitution Rule | If the coverage is below 75% or any of constituents is not within an acceptable range in accordance with the Volume Buffer Rule in terms of 90-day average trading volume, IXCI will be reconstituted to bring MC coverage back and do liquidity screening. |
| Reconstitution and Rebalancing Frequency | Quarterly and with a fast entry rule |
| Weighting Methodology | Free float adjusted market capitalization weighted with a cap of 40% |
| Currency | US Dollar |
| Dissemination | Every 5 seconds for 24×7
(On Bloomberg, Reuters and major information vendors) |
| Website | https://ix-index.com/ |
| Crypto | 90-day-average- Market Cap | 90-day-average-volume * | Cut-off Price |
Cumulative Market Coverage before Cap |
Weighting (%) After 40% Cap# | |
| 1 | Bitcoin | $ 1,853,706,299,098 | $ 44,335,293,590 | 82334.52 | 59.07% | 40.00% |
| 2 | Ethereum | $ 324,029,915,475 | $ 23,391,114,110 | 1806.22 | 69.39% | 23.56% |
| 3 | XRP | $ 147,586,504,307 | $ 7,512,441,885 | 2.14 | 74.09% | 13.44% |
| 4 | Solana | $ 88,521,847,638 | $ 5,227,247,283 | 124.64 | 76.91% | 6.90% |
| 5 | Dogecoin | $ 39,041,680,047 | $ 2,512,936,991 | 0.17 | 78.16% | 2.67% |
| 6 | Cardano | $ 29,530,840,898 | $ 1,400,106,794 | 0.66 | 79.10% | 2.52% |
| 7 | TRON | $ 21,041,656,451 | $ 756,877,826 | 0.23 | 79.77% | 2.38% |
| 8 | Chainlink | $ 11,988,550,347 | $ 677,353,909 | 13.39 | 80.15% | 0.95% |
| 9 | Avalanche | $ 11,437,915,217 | $ 449,968,255 | 18.86 | 80.52% | 0.85% |
| 10 | Stellar | $ 10,666,634,081 | $ 502,743,927 | 0.27 | 80.86% | 0.89% |
| 11 | Sui | $ 10,563,860,585 | $ 1,259,649,871 | 2.35 | 81.19% | 0.81% |
| 12 | Toncoin | $ 10,373,541,695 | $ 206,364,392 | 3.90 | 81.52% | 1.05% |
| 13 | Hedera | $ 9,897,358,921 | $ 538,624,996 | 0.17 | 81.84% | 0.77% |
| 14 | Shiba Inu | $ 9,851,176,835 | $ 382,240,482 | 0.00 | 82.15% | 0.79% |
| 15 | Polkadot | $ 8,309,611,370 | $ 273,561,329 | 4.04 | 82.42% | 0.68% |
| 16 | Litecoin | $ 8,265,200,782 | $ 965,042,550 | 86.00 | 82.68% | 0.70% |
| 17 | Bitcoin Cash | $ 7,375,185,883 | $ 342,182,940 | 298.85 | 82.92% | 0.64% |
| 18 | Uniswap | $ 5,914,239,713 | $ 251,139,351 | 5.87 | 83.10% | 0.40% |
* 90-day-average-volume ranking in total market is shown in the parentheses
# Weighting (%) after 40% Cap is adjusted according to the cut-off price, the arrangement of order may not be the same as 90-day-average-Market Cap
Selection of index constituents is based on the past 90-day-average market capitalization and volume.
For the calculation methodology of the index, please refer to the “ixCrypto Index Methodology Paper” on our website
Appendix 3
Weightings of the Constituents of ixCrypto Portfolio Indexes
| Index Constituents | ixCrypto 5 EW Index | ixCrypto 5 SR Index | ixCrypto 10 EW Index | ixCrypto 10 SR Index | ixCrypto Altcoin 10 EW Index | ixCrypto Altcoin 10 SR Index |
|
| 1 | Bitcoin | 20.00% | 50.97% | 10.00% | 41.48% | – | – |
| 2 | Ethereum | 20.00% | 18.62% | 10.00% | 15.15% | 10.00% | 24.71% |
| 3 | XRP | 20.00% | 14.06% | 10.00% | 11.44% | 10.00% | 18.66% |
| 4 | Solana | 20.00% | 10.08% | 10.00% | 8.20% | 10.00% | 13.37% |
| 5 | Dogecoin | 20.00% | 6.27% | 10.00% | 5.10% | 10.00% | 8.32% |
| 6 | Cardano | – | – | 10.00% | 4.95% | 10.00% | 8.08% |
| 7 | TRON | – | – | 10.00% | 4.81% | 10.00% | 7.85% |
| 8 | Chainlink | – | – | 10.00% | 3.04% | 10.00% | 4.96% |
| 9 | Avalanche | – | – | 10.00% | 2.88% | 10.00% | 4.68% |
| 10 | Stellar | – | – | 10.00% | 2.95% | 10.00% | 4.80% |
| 11 | Sui | – | – | – | – | 10.00% | 4.57% |
Weightings of the Constituents of ixCrypto BTC/ETH 50/50 Index
and ixCrypto BTC/ETH Proportional Index
| 90-day-average Crypto Market Cap | 90-day-average Crypto Volume | Index Level | Cumulative Market Cap Coverage | Weight in BTC/ETH 50/50 | Weight in BTC/ETH Proportional | |
| IXBI | $ 1,853,706,299,098 | $ 44,335,293,590 | 19871.37 | 59.07% | 50.00% | 88.23% |
| IXEI | $ 324,029,915,475 | $ 23,391,114,110 | 15484.61 | 69.39% | 50.00% | 11.77% |
Weightings of the Constituents of ixCrypto Stablecoin Indexes
| Crypto | 90-day-average- Market Cap | 90-day-average- volume |
Cut-off Price |
Cumulative Market Coverage before Cap |
Weighting (%) After 40% Cap | |
| 1 | Tether USDT | $ 140,886,211,125 | $96,063,792,876 | $1.00 | 4.49% | 40.00% |
| 2 | USDC | $ 54,040,686,289 | $9,493,000,348 | $1.00 | 6.21% | 40.00% |
| 3 | Ethena USDe | $ 5,731,179,447 | $102,739,821 | $1.00 | 6.39% | 9.89% |
| 4 | Dai | $ 5,365,464,578 | $ 1,731,621,623 | $1.00 | 6.56% | 10.11% |
Appendix 6
ixCrypto Indexes Dissemination
Real time indexes are disseminated every 5-second interval for 24×7 since 23 June 2022. The real-time indexes are available for viewing on the IX Crypto Index official webpage. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers “IXCI”, “IXBI” and “IXEI”, with dissemination interval kept at 15-second unchanged.
The vendor tickers are shown below:
| Index Name | Bloomberg Ticker | Reuters Ticker | |
| Real-time | Delayed | ||
| ixCrypto Index | IXCI | IXCI2 | .IXCI |
| ixBitcoin Index | IXCBI | IXCBI2 | .IXBI1 |
| ixEthereum Index | IXCEI | IXCEI2 | .IXEI1 |
For data licensing and product, please contact us at [email protected].
For free API use on academic research or trial, please contact [email protected]
Hashtag: #IXAsia #ixCryptoIndex
The issuer is solely responsible for the content of this announcement.
About IX Asia Indexes and IX Asia Index Advisory Committee
IX Capital International Limited is an award-winning index and investment advisory company. The index business arm- IX Asia Indexes, providing real-time digital asset and innovative indexes, disseminated 24×7 globally and built on robust infrastructure. Since the launch of the first crypto benchmark index (“IXCI”) launched in Hong Kong in December 2018, the ixCrypto index series expand into 29 indexes designed for exchange futures product, mark to market and fund managers’ portfolio construction purposes. To ensure the professionality and impartiality of the index methodologies and operations, IX Asia Indexes has established its index advisory committee with representation from different industries, including fund management, exchanges, brokerage, financial blockchain experts, crypto service providers, etc. The committee will meet quarterly a year to discuss matters relating to the IX Asia Indexes, including to review and to comment the data sources, methodologies, and operations of IX Asia Indexes, to provide guidance to the future development of new IX Asia Indexes and to handle other issues and decisions on an as-needed basis.
IX Asia Indexes was awarded the Fintech Award (wealth investment and management) 2019 and 2021 organised by ETNet. It as well won an award for Startup of the Year and Basic Technology (Big Data) from Hong Kong Fintech Impetus Awards 2022 by Metro Broadcast and KPMG. It also won Asia Pacific Enterprise Achievement Award 2024 by Echolade. IX Asia Indexes completed its IOSCO compliance statement and obtained ISO/IEC 27001:2013 UKAS certification.
Website: https://ix-index.com/
Advisory Committee: https://ix-index.com/committee.htm
About IX Crypto Indexes
The ixCrypto index (“IXCI”) is the first crypto index launched in Hong Kong. It was launched on 12 December 2018. It is denominated in USD with a base value of 1000 and a base date on 3 December 2018. Designed to be easy to understand while providing a good representation of the crypto market, ixCrypto index aims to cover the top 80% of the cumulative free-float adjusted market capitalization in the crypto universe and, at the same time, the crypto currencies should fall within the top liquid cryptos ranked by trading volume in the 90 days preceding the review date. The index is to be reviewed quarterly and with a fast entry rule. Real time indexes are disseminated every 5-second for 24×7 since 23 June 2022. Real time index data together with ixBitcoin Index and ixEthereum Index can be obtained from IX Asia Indexes Data Services and Bloomberg terminal on IXCI <GO>. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers “IXCI”, “IXBI”, “IXEI”, with dissemination interval kept at 15-second unchanged.
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Asia Coach Group Partners with Veteran Business Consultant Rick Tam to Launch “Business Breakthrough” Programme for Hong Kong SMEs
Challenging Business Environment Demands New Solutions
Hong Kong’s SMEs are facing unprecedented operational pressures. According to a survey by CPA Australia, 37% of small businesses in Hong Kong struggle to obtain external financing. Data from Airwallex further reveals that 96% of SMEs have experienced cash flow difficulties in the past year. With property asset values declining, banks’ insistence on property collateral for loans has left many enterprises in financial distress.
Responding to Market Needs with Systematic Business Upgrade Solutions
“Hong Kong has never lacked capital—what’s missing is the mechanism to connect businesses with it,” Rick Tam noted. The programme addresses common pain points faced by local SMEs, including declining profits, low business valuations, tight cash flow, and recruitment challenges. Built upon the four-pillar framework of “Commerce, Strategy, Breakthrough, and Structure,” the curriculum covers stabilising cash flow and enhancing financial flexibility, repositioning businesses and improving client quality, reshaping product value and expanding profit margins, as well as systematising operations and attracting investors. The programme commits to helping participants improve cash flow, increase business value, and strengthen their business models within 90 days.
Four Practical Tools for Immediate Application
Participants will acquire four core tools: the “Cash Flow Vortex System” for rapid assessment of financial status and establishing safety buffers; the “A.T.C. Client Leverage Ladder” for repositioning and enhancing client value; the “High-Value Breakthrough Method” for creating products with greater value and trust; and the “Marketing Triangle Matrix” for integrating human resources, client bases, and operational systems to plan business expansion. The programme adopts a six-step progressive model—from restructuring business models, improving profit margins, attracting capital injection, building high-performance teams, and systematising operations, to ultimately helping business owners reclaim their time and freedom.
Instructor Credentials
Programme instructor Rick Tam is a graduate of the University of Hong Kong’s Business School and currently serves as CEO of two family offices and chief consultant to several others. He holds the CFPCM Certified Financial Planner designation. Tam has founded more than nine brands spanning wealth management, securities, and food and beverage sectors, and has guided over 1,000 participants through business expansion.
As Hong Kong’s economy seeks transformation, channelling capital precisely into the real economy through the “Business Breakthrough” approach offers more than a lifeline for SMEs—it injects vital momentum into Hong Kong’s long-term economic development.
Hashtag: #RickTam #AsiaCoach
The issuer is solely responsible for the content of this announcement.
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Zuellig Pharma Strengthens Consumer Healthcare Portfolio with the Acquisition of Zam-Buk® and Vapex® Brands from Bayer
Zam-Buk® is an ointment used for the temporary relief of pain and itch, including discomfort from insect bites. First launched in 1902, Zam-Buk® has retained strong brand equity over the decades and is widely perceived as a trusted household brand. Vapex® is a nasal inhaler used to help relieve nasal congestion. Launched in 1917, Vapex® has built meaningful brand recognition, particularly in Thailand.
The acquisition of the brands supports Zuellig Pharma’s strategic priority to strengthen and scale its consumer healthcare portfolio across Asia. It also marks the company’s second consumer healthcare acquisition, following Propan in the Philippines, reinforcing its focus on building a strong commercial platform for trusted, everyday healthcare products in the region.
Hashtag: #ZuelligPharma #ConsumerHealthcare #ConsumerHealth #Healthcare #Pharmaceuticals #Zambuk #Vapex #Bayer
https://www.zuelligpharma.com/
https://www.linkedin.com/company/zuellig-pharma
The issuer is solely responsible for the content of this announcement.
About Zuellig Pharma
Zuellig Pharma is a leading healthcare solutions company in Asia, and our purpose is to make healthcare more accessible to the communities we serve. We provide world-class distribution, commercialization, and clinical trial support services, underpinned by a strong culture of innovation to support the growing healthcare needs in this region. The company was founded a hundred years ago and has grown to become a multibillion-dollar business covering 18 markets with over 12,000 employees. Our people serve more than 200,000 medical facilities and work with over 450 clients, including the top 20 pharmaceutical companies in the world.
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International Entertainment Corporation to Hold EGM on 26 February 2026 for Proposed Convertible Notes Issuance
DigiPlus Interactive Corp., named as one of the Fortune Southeast Asia 500, together with its subsidiaries, is an innovative digital entertainment group in the Philippines and is a leader in the casinos and gaming industry. On 17 November 2025, the Company entered into the Subscription Agreement with the Subscriber, pursuant to which the Company conditionally agreed to issue and the Subscriber conditionally agreed to subscribe for the Notes in two tranches with a maturity of five years and an interest rate of 3% per annum.
Upon full conversion of the Notes at the initial Conversion Price, a total of 1,600,000,000 Shares will be issued by the Company, representing approximately 53.89% of the issued share capital of the Company as enlarged by the issue and allotment of the Conversion Shares. As such, the Subscriber will be obliged to make a mandatory general offer pursuant to Rule 26.1 of the Takeovers Code, unless the Whitewash Waiver is granted and approved.
The initial Conversion Price of HK$1.00 per Conversion Share represents a discount of approximately 3.85% to the closing price of HK$1.04 per Share as quoted on the Stock Exchange on the Latest Practicable Date (6 February 2026).
The board of Directors (the “Board“) believes that the Subscription would be beneficial to improving and strengthening the Group’s liquidity and financial position on a longer-term basis. In the event that the Subscriber converts part or the full amount of the Notes into the Conversion Shares, it will also broaden the shareholder and capital base of the Company. The Group intends to apply part of the net proceeds raised from the issuance of the Notes of approximately HK$489.22 million for the early repayment of the Promissory Notes and interest accrued thereon (the “PN Repayment“), and approximately HK$392.39 million to early repay the Secured Bank Borrowing to achieve immediate interest savings.
The remaining net proceeds will primarily be used for funding the Investment Commitment and attractive investment/business opportunity(ies); and as general working capital of the Group. The Investment Commitment is currently expected to include capital investments for acquisition of land for the expansion of the Group’s integrated resort in Manila City in the Philippines (the ”Hotel”) and the construction of additional hotel rooms, for provision of other amenities of the integrated resort, and for ongoing upgrades, refurbishments and renovations to the facilities and infrastructures of both the Hotel and the Group’s existing casino (the “Casino“).
The Independent Board Committee, which comprises all the independent non-executive Directors, is of the opinion that (i) the terms of the Subscription Agreement are on normal commercial terms, and the terms of the Subscription, the Whitewash Waiver and the Special Deal (the PN Repayment to the PN Holder) are fair and reasonable so far as the Independent Shareholders are concerned; and (ii) the Subscription, the Whitewash Waiver and the Special Deal are in the interests of the Company and the Shareholders as a whole and as far as the Independent Shareholders are concerned. It, therefore, recommends the Independent Shareholders to vote in favour of the relevant resolution(s) to be proposed at the EGM.
Hashtag: #InternationalEntertainmentCorporation
The issuer is solely responsible for the content of this announcement.
About International Entertainment Corporation (HKEX: 1009)
International Entertainment Corporation is an investment holding company. The Company and its subsidiaries are principally involved in hotel operations, operating the gaming business under provisional licence and leasing of gaming venues at the hotel complex of the Group in Metro Manila in the Republic of the Philippines to a tenant for authorized gaming operation and live poker events in Macau.
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