Introduction
Today, XinSheng Asia Index announced the mid-year 2025 review results for its Global Digital Asset Industry Classification Standard ("DAICS®"). DAICS® provides professionals worldwide with a transparent, standardized classification system to categorize digital assets by industry and sector.
DAICS® classifies digital assets into two primary categories:
Cryptocurrencies
- Layer 1: Industry
- Layer 2: Sector
- Layer 3: Subsector
Asset-Backed Tokens (ABT)
- Layer 1: Asset Type
- Layer 2: Branch
- Layer 3: Sub-branch
Key Findings
DAICS® Coverage & Market Impact
- Token Coverage: Top 50 cryptocurrencies by market capitalization over the past 90 days.
- Market Coverage: 97.53%* of the digital asset market.
- Coverage of 50th-ranked crypto: 0.060%**.
Member Changes:
- Added: Hyperliquid (HYPE), Pi (PI), Bitget Token (BGB), Mantra (OM), Ondo (ONDO), Gate Token (GT), Official Trump (TRUMP), Ethena (ENA).
- Removed: Artificial Superintelligence Alliance (ASI), Stacks (STX), Dogwifhat (WIFG), Arbitrum (ARB), ImmutableX (IMXG), Injective Protocol (INJ), Optimism (OP), Fantom (FTM) (renamed to Sonic (S)).
*Excludes wrapped tokens or secondary cryptocurrencies per DAICS® rules.
**Based on June 6, 2025, data.
Implementation Timeline
All classification changes, including updates to the XinSheng Crypto Infrastructure Index and XinSheng Crypto Stablecoin Index, will take effect on July 18, 2025.
Detailed Classification Updates
1. Cryptocurrencies
1.1 Structure & Definitions
Layer 1: Industry Changes
- 5 industries retained with unchanged definitions and weights:
| Industry | Weight |
|---------------------|----------|
| Payments (110) | 78.35% |
| Infrastructure (120) | 15.78% |
| Financial Services (130) | 4.17% |
| Tech & Data (140) | 0.24% |
| Media & Entertainment (150) | 1.46% |
Layer 2: Sector Changes
New Sector: Financial Asset Tokenization (13040) under Financial Services.
- Focuses on tokenized issuance/management of financial assets (e.g., Treasuries, real estate, stablecoins).
1.2 Green Cryptocurrencies
- 9 "Green Coins" identified based on energy efficiency (≤0.005 Wh per transaction):
| Industry | Low-Energy Cryptos (≤0.005 Wh) |
|--------------------|--------------------------------|
| Payments (110) | DAIG, USDeG, KASG, FDUSDG |
| Financial Services (130) | LEOG, OKBG, AAVEG |
| Tech & Data (140) | TAOG |
| Media & Entertainment (150) | PEPEG |
2. Asset-Backed Tokens (ABT)
2.1 Structure & Definitions
6 Asset Classes maintained:
- Cultural (205)
- Real Estate (215)
- Financial (235)
- Entertainment (255)
- Natural Resources (265)
- Green Economy (275)
2.2 Market Coverage
- ABTs represent 0.67% of total digital asset market cap (vs. 0.11% in H2 2024).
- XinSheng Asia Index has not yet classified any ABTs.
Appendices
Appendix 1: Top 50 Crypto Ranking Changes
| New Rank | Added Cryptos | Old Rank | Removed Cryptos |
|--------------|-------------------|-------------|---------------------|
| 20 | Hyperliquid (HYPE) | 29 | ASI |
| 23 | Pi (PI) | 37 | Stacks (STX) |
| ... | ... | ... | ... |
Appendix 2: Crypto Classification Table
| Category | Industry | Sector | Example Cryptos |
|----------------|-------------------|----------------------|----------------------|
| Cryptocurrency | Payments (110) | Payments & Trading | BTC, XRP, LTC |
| ... | ... | ... | ... |
FAQs
Q1: How often is DAICS® updated?
A1: Semi-annually (June & December).
Q2: What defines a "Green Coin"?
A2: Coins in the top 20% for energy efficiency (≤0.005 Wh/transaction).
Q3: Where can I find DAICS® weightings?
A3: Visit XinSheng Asia Index for real-time data.
👉 Learn about tokenization frameworks
Conclusion
DAICS® 2025 mid-year review enhances transparency in digital asset classification, introducing new sectors and green benchmarks. Updates reflect evolving market trends, ensuring DAICS® remains the global standard for institutional and retail investors alike.
For inquiries, contact [[email protected]](mailto:[email protected]).
Disclaimer: This content is for informational purposes only. Conduct independent research before making investment decisions.