Key Takeaways
- • The Morgan Creek Bitwise Digital Asset Index completed its April 2026 rebalance with no portfolio changes, maintaining stable allocations across its constituent digital assets as of April 29, 2026.
- • Bitcoin dominates the index at 83.64% weighting, while Ethereum represents the second-largest position at 14.93%, reflecting the concentration characteristic of the crypto asset class by market capitalization.
- • The index's ten holdings range from established large-cap assets (Bitcoin, Ethereum) down to sub-0.10% allocations for emerging protocols including Aave, NEAR Protocol, Sky, and Uniswap, demonstrating a market-cap weighted structure with significant tail risk concentration.
- • No reconstitution activity or weight adjustments occurred despite broader digital asset market volatility in Q1 2026, when Bitcoin declined 22.1% quarterly and the CoinDesk 20 Index fell 27.4% to 1,952.
- • The static rebalance outcome suggests that April 2026 market movements did not trigger the index methodology's thresholds for constituent changes or weight reallocation among the ten holdings.
Summary
The Morgan Creek Bitwise Digital Asset Index executed its regularly scheduled April 2026 rebalancing cycle without implementing any portfolio modifications. As of 4:00 PM ET on April 29, 2026, the index maintained its existing ten-asset composition and weight allocations, with Bitcoin representing 83.64% of the portfolio and Ethereum comprising 14.93%. The remaining eight holdings—Cardano (0.50%), Litecoin (0.23%), Avalanche (0.21%), Polkadot (0.11%), Uniswap (0.11%), Sky (0.10%), NEAR Protocol (0.09%), and Aave (0.08%)—collectively account for less than 1.25% of total index weight.
The decision to maintain status quo allocations occurred within a context of significant digital asset market stress. According to CF Benchmarks data from April 27, 2026, Bitcoin had risen 3.6% week-on-week but remained negative 11.2% year-to-date, while Ethereum added 1.7% on a weekly basis while posting a negative 21.4% year-to-date return. This recent volatility followed an exceptionally weak first quarter for the asset class, with CoinDesk's Q1 2026 Digital Asset Review reporting that Bitcoin fell 22.1% to $68,228 during the quarter—its second-largest quarterly decline since Q2 2022—and the broader CoinDesk 20 Index declined 27.4% to 1,952.
The absence of rebalancing activity suggests that April market movements did not breach the reconstitution thresholds established within the index's methodology. The index's committee reviews expected changes to the Bitwise Crypto Indexes through a regularly scheduled process, with results published following the rebalance date. The static April outcome contrasts with potential volatility patterns observed in prior periods; for context, the February 2026 rebalance reflected holdings including XRP at 4.85% weighting within the Bitwise 10 Large Cap Crypto Index, indicating that constituent weights and compositions can shift across rebalance cycles based on market-cap adjustments and methodology triggers.
For institutional investors utilizing the Morgan Creek Bitwise Digital Asset Index as a performance benchmark or portfolio holding, the April 2026 no-change outcome confirms the index's relative stability despite broader market turbulence, while the index's concentration in Bitcoin (83.64%) and Ethereum (14.93%) underscores the structural concentration risk inherent in market-cap weighted digital asset indices.
The decision to maintain status quo allocations occurred within a context of significant digital asset market stress. According to CF Benchmarks data from April 27, 2026, Bitcoin had risen 3.6% week-on-week but remained negative 11.2% year-to-date, while Ethereum added 1.7% on a weekly basis while posting a negative 21.4% year-to-date return. This recent volatility followed an exceptionally weak first quarter for the asset class, with CoinDesk's Q1 2026 Digital Asset Review reporting that Bitcoin fell 22.1% to $68,228 during the quarter—its second-largest quarterly decline since Q2 2022—and the broader CoinDesk 20 Index declined 27.4% to 1,952.
The absence of rebalancing activity suggests that April market movements did not breach the reconstitution thresholds established within the index's methodology. The index's committee reviews expected changes to the Bitwise Crypto Indexes through a regularly scheduled process, with results published following the rebalance date. The static April outcome contrasts with potential volatility patterns observed in prior periods; for context, the February 2026 rebalance reflected holdings including XRP at 4.85% weighting within the Bitwise 10 Large Cap Crypto Index, indicating that constituent weights and compositions can shift across rebalance cycles based on market-cap adjustments and methodology triggers.
For institutional investors utilizing the Morgan Creek Bitwise Digital Asset Index as a performance benchmark or portfolio holding, the April 2026 no-change outcome confirms the index's relative stability despite broader market turbulence, while the index's concentration in Bitcoin (83.64%) and Ethereum (14.93%) underscores the structural concentration risk inherent in market-cap weighted digital asset indices.
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