JPX-QUICK Cryptocurrency Index Announces Four Reference Exchanges

Key Points of This Article

• QUICK Bitcoin Index renamed, new ETH index established
• Coincheck explains it has the largest share in BTC trading among the four companies

Background of Index Refresh and Role of Reference Exchanges

On the 29th, QUICK Corporation and JPX Research Institute announced that they will rename the existing "QUICK Bitcoin Index" to "JPX-QUICK Bitcoin Index" and will also calculate and publish a new "JPX-QUICK Ethereum Index" as part of the jointly calculated and operated "JPX-QUICK Cryptocurrency Index Series." On the same day, bitFlyer and Coincheck were revealed to be selected as reference exchanges that provide the necessary transaction information for index calculation.

Reference exchanges refer to cryptocurrency exchange operators that are deemed appropriate by QUICK and JPX Research Institute as data providers for index calculation. According to Coincheck's announcement, in addition to these two companies, four domestic companies including GMO Coin and Bitbank have been selected.

From Trial Calculation to Full Operation

QUICK and JPX Research Institute have been considering the construction of an index design and operational system utilizing their expertise, based on the Financial Services Agency's data indicating that the number of accounts opened and the balance of user deposits at domestic cryptocurrency exchanges are expanding, and that investment in cryptocurrencies is progressing.

The QUICK Bitcoin Index began trial calculations in April 2025 after discussions at the "Cryptocurrency Benchmark Study Group" and transitioned to full calculations with daily index value announcements starting in December of the same year.

Coincheck claims to have the largest share in Bitcoin spot trading among the four reference exchanges in the first half of 2026 (according to their own research). The company's executive officer, Soichiro Tokiriku, expressed expectations that the provision of a reliable index will lead to the development of financial products targeting cryptocurrencies.

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