Bitwise Crypto Index Committee Special Meeting (November 29, 2022)
San Francisco • November 30, 2022
Meeting Details
Date: November 29, 2022
Time: 1:00–2:00 p.m. PT
Reason for Meeting: Special meeting to discuss proposed rule change
In Attendance: Matt Hougan (Chair), Hunter Horsley (Member), Hong Kim (Member)
Meeting Notes
Item 1: Potential Rule Change
Description: The Chair called a meeting to discuss a proposed change to rule III.A.i.h of the index. The rule currently reads:
In the opinion of the Bitwise Crypto Index Committee, relying on all available data, does not inflate or exaggerate the volume of trading on the trading venue.
The goal of this rule is to exclude trading venues from consideration that may exaggerate volume or report noneconomic trading activity.
The proposal was to change the rule to read as follows:
In the opinion of the Bitwise Crypto Index Committee, has significant real spot trading volume.
The goal of this rule is to select venues that the Bitwise Crypto Index Committee believes have economically meaningful trading volume.
Vote: The Committee voted 3-0 to approve this change.
Item 2: Adjournment
The Chair adjourned the meeting.
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