KraneShares Files for Coinbase 50 Index ETF

KraneShares, a New York-based asset management firm focused on exchange-traded funds, plans to introduce a 'Coinbase 50 Index ETF.' This ETF will follow the performance of the 50 largest digital assets by market capitalization. As announced recently, the company has filed for registration with the U.S. Securities and Exchange Commission. The Coinbase 50 Index, initiated in late 2024, is maintained by the largest U.S. cryptocurrency exchange and revisits its portfolio every quarter. Currently, the index's top holdings are 50% Bitcoin, 21% Ethereum, and 9% XRP. Nate Geraci from the ETF Store anticipates a surge in similar index ETF filings. KraneShares, established by Jonathan Krane in 2023, specializes in investment opportunities related to China, climate, and alternative assets. The firm is predominantly owned by China International Capital Corporation. Disclaimer: The Block is an independent media outlet focused on crypto-related news. Foresight Ventures, which invests in crypto enterprises, is its major investor as of November 2023. However, The Block maintains editorial independence.