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HomeIndices

CoinShares Bitcoin Hourly Reference Rate

The CoinShares Bitcoin Hourly Reference Rate (CSBTCHR) is designed to provide institutional investors with independent bitcoin reference prices based on a resilient and EU Benchmark Regulation (EU BMR) compliant methodology.

  • 01 – Product
  • 02 – Index Summary
  • 03 – Performance
  • 04 – Details
– 01
Product

Why CSBTCHR?

Transparent reference price

The CSBTCHR is a transparent reference price for bitcoin with independent governance and oversight. Rates are computed hourly, every day of the year. They are calculated at the end of every hour and are published around 5 minutes after the end of the hour.

Easily Accessible

The CSBTCHR can be accessed online on the Compass Financial Technologies website (www.compass-ft.com) or on Bloomberg or Refinitiv. The CoinShares Hourly Reference Rates are non-significant benchmarks according to EU BMR.

Published by industry experts

CSBTCHR is owned by CoinShares. The Benchmark Administrator and Calculation Agent is Compass Financial Technologies (France). Data is provided by CryptoCompare.

Designed for institutions

The CSBTCHR is calculated based on the collection of all observable transactions and order books snapshots of all Selected Exchanges. The reference rate has been designed to provide institutional investors with independent and robust reference prices.

– 02 Index Summary

Methodology

The CoinShares Hourly Reference Rates offer transparent cryptocurrency prices, calculated hourly and published shortly after each hour. Accessible online via Compass Financial Technologies, Bloomberg, or Refinitiv, they are designed for institutional investors seeking reliable reference prices. Compliant with EU BMR standards, these rates serve as independent and transparent valuation benchmarks for cryptocurrency portfolios.

Download the Methodology document

Index Performance

03 Performance
Jan '17Feb '18Mar '19Apr '20May '21May '22Jun '23Jul '24Aug '250 %5,000 %10,000 %15,000 %20,000 %25,000 %30,000 %0 %5,000 %10,000 %15,000 %20,000 %25,000 %30,000 %
CSBTCHR
Source: BBGLast updated on 02/09/2026
Total Return Since Inception18,088.00 %
Annualised Return Since Inception62.84 %
30 Day Low62,741.62
30 Day High80,615.27
Y to Y Return−26.66 %
Annualised Standard Deviation68.09 %

Key risks

Capital at Risk: Investors' capital is at risk, and they may lose part or all of their investment. Complexity: Crypto Indexes are complex indexes that may be difficult to fully understand. Past Performance: Historical performance figures are provided for reference only and should not be considered as a reliable indicator of future returns Currency & Fees: Performance data is presented in US dollars and does not account for any trading and execution fees.
– 04 Details

Documents

Year
  • Methodology — CSBTCHR IndexDownload
  • Benchmark statement — CSBTCHR IndexDownload

Our Team

Our expert index team delivers expert research & market insights.

Pierre Porthaux

Pierre Porthaux

Head of Quantitative Research & Development

Luc Guillou

Luc Guillou

Deputy Head of Trading

Welcome to CoinShares

Personal Data

01 — 02

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