With reference to IC15, consider the following statements: It is the first index in India that can act as a benchmark of the underlying cryptocurrency market Securities and Exchange Board of India (SEBI) will be responsible for its monitoring. Performance of the underlying Cryptocurrencies in the index is measured on the basis of market capitalization. Which of the statements given above is/are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: C

Notes:

Statement 1 is correct: IC15, launched by Superapp CryptoWire, is the first index in India that can act as a benchmark of the underlying cryptocurrency market and the performance benchmark for fund managers.
Statement 2 is incorrect: An Index Governance Committee (IGC) of domain experts, industry practitioners, and academicians will select cryptocurrencies from the top 400 coins in terms of market capitalization. It will also be in charge of monitoring and maintaining the index, including reshuffling of the top 15 cryptos.

Statement 3 is correct: It will measure the performance of the 15 most widely traded cryptocurrencies listed on leading crypto exchanges by market capitalization.

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