Unlocking Institutional Access to Crypto with Copper and ic21

The Index Coop is delighted to announce that Copper, an institutional-grade custodian in the digital asset space, has listed our cross-chain Large Cap Index Token (ic21). Allocators and institutional users can now easily access our diversified index via their Copper custody account. 

ic21 is an onchain index token that contains the top ten crypto assets.  The weighting of the underlying tokens is determined by square root market capitalisation to avoid overweighting towards BTC and ETH. In order to achieve seamless cross-chain diversification, non-EVM assets, such as ADA and SOL, are included via the creation of new 21.co Wrapped Tokens. These tokens use a fully collateralised custodial model similar to wBTC or USDC.

Let’s take a deeper look at Copper and ic21:

Copper: a trustworthy digital asset custody option for institutions

For institutions, managing digital assets is a challenging process where trust is crucial. Many rely on third-party custodians like Copper to backstop their assets and help facilitate their trading strategies. Since 2018, Copper has distinguished itself as a reliable choice, trusted by industry giants like Brevan Howard and 21shares. Their listing of ic21 merges top-tier security with a prominent crypto theme, leveraging their Multi-Party Computation (MPC) for enhanced security and efficiency and introducing onchain structured products as a part of their clients' allocation toolkit.

Ic21: Easy access to cross-chain diversification for institutions 

The objective of the Index Coop Large Cap Index is to help token holders gain seamless exposure to the largest and most impactful crypto assets in the market. ic21 offers substantive access to L1 & L2 blockchains and blue-chip crypto projects without significantly overweighting BTC and ETH. The methodology also provides diversification across chains without the need to bridge assets.

Since its launch on August 31st, ic21 has eclipsed ETH by 15% (as of November 16), pointing to the advantages of diversification and the untapped growth potential for top projects outside of BTC and ETH.

Some of the benefits of acquiring ic21 include: 

• Diversification: ic21 spreads capital across the most influential projects in crypto, mitigating risks associated with holding single tokens and balancing out returns.
• Automatic rebalancing: ic21 is rebalanced under the hood to capture the evolving landscape of the large-cap theme, eliminating the need for manual portfolio adjustments.
• Enhanced security: All underlying tokens are held in cold storage by institutional custodians, offering separation between the issuer and the native blockchain token. Operations are executed by approved and verified institutions that can mint and burn tokens to maintain their peg with the underlying assets.

You can learn more about ic21 from this overview of the product. You can also review the product's recent performance on this analytics dashboard on Dune.

Finally, if you have questions about the product or would like to learn more about how to acquire ic21, please reach out to our partnerships team at institutions@indexcoop.com.

About the Index Coop:

Index Coop is a decentralised autonomous organisation (DAO) that powers structured decentralised finance (DeFi) products and strategy tokens using smart contracts on the blockchain. We offer a suite of sector-structured products, leveraged and inverse products, and yield-generating products. We aim to create products that are simple to use, accessible to everyone and secure. Our products are built on Set Protocol, a twice-audited, self-custodial DeFi tool that allows for the creation and management of Ethereum-based (or ERC-20) tokens. Among users, partner protocols, and our composable products, Index Coop maintains one of the largest partnership networks in the DeFi ecosystem.