Bitcoin-Led Drawdown Moves the Market Lower
The CF Free-Float Broad Cap Index fell 18.29% in June as a Bitcoin-led drawdown overwhelmed a thinning tape. Record ETF outflows, a rare Strategy sale, and a delayed Ethereum upgrade left Settlement assets supplying nearly the entire loss, with diversification offering little cover across the suite.
Mark Pilipczuk
Non-Programmable Tokens Lead Rebound as Hedging Demand Softens
Digital assets rebounded broadly over the past week as a soft US jobs print pared rate-hike fear and ETF flows turned positive. Payments and settlement names led, breadth favored diversified exposure, implied volatility compressed, and Bitcoin front-end funding eased toward its term curve.
Gabriel Selby
Factor Friday - July 3, 2026
The broad market rebounded 5.22% this week after the prior week's selloff, but style factors mostly sat out the bounce. Value was the only factor in positive territory at 1.42%, extending its four-week gain to 3.67% while the Market remains down 2.24% over that span.
Mark Pilipczuk
Hawkish Fed & Geopolitical Fragility Broaden Drawdown
A hawkish Fed, a 4.2% CPI print, and fragile Iran diplomacy drove a broad, steep drawdown across digital assets in June. Every CF Benchmarks index fell, fund outflows hit a 2026 high near $4.1 billion, and investors stayed defensive as rate-cut hopes faded and the war premium lingered.
Mark Pilipczuk
Changes to the Token Market Price Benchmarks Series - Market Prices – 30 June 2026
Changes to the Token Market Price Benchmarks Series - Market Prices – 30 June 2026.
CF Benchmarks
Implied Volatility Premiums Rise as Macro Risks Loom
Digital assets fell across the board last week as a hotter inflation print and steady ETF outflows met a risk-off market. The decline was uniform, with little to separate large caps; only a value tilt and two DeFi names held up as implied volatility rebuilt a premium.
Mark Pilipczuk
Factor Friday - June 26, 2026
Growth and Value led the factor rankings for the week ending June 25 as momentum-driven positioning continued to unwind - Momentum finished last, extending its YTD loss to -7.14%. Size remains the top YTD performer.
Gabriel Selby
Suspension of itBit Paxos as a Constituent Exchange from Certain CME CF Cryptocurrency Pricing Products
Suspension of itBit Paxos as a Constituent Exchange from Certain CME CF Cryptocurrency Pricing Products
CF Benchmarks
Suspension of itBit Paxos as a Constituent Exchange from Certain CF Digital Asset Index Family Benchmarks
Suspension of itBit Paxos as a Constituent Exchange from Certain CF Digital Asset Index Family Benchmarks
CF Benchmarks
Outcome of Consultation on Changes to the CME CF Real Time Indices Methodology
Outcome of Consultation on Changes to the CME CF Real Time Indices Methodology
CF Benchmarks
Outcome of Consultation on Changes to the CF Spot Rate Methodology Guide
Outcome of Consultation on Changes to the CF Spot Rate Methodology Guide
CF Benchmarks
Addition of CF Hyperliquid Options Settlement Rate to the CF Options Settlement Rate Series
The Administrator announces the addition of the CF Hyperliquid Options Settlement Rate to the CF Digital Asset Index Family - CF Options Settlement Rate Series
CF Benchmarks
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