ProShares launches the CoinDesk 20 Crypto ETF
According to CoinDesk, asset management company ProShares has announced the launch of the KRYP ETF, which is the first cryptocurrency ETF in the U.S. to track the CoinDesk 20 Index, providing investors with exposure to a basket of the 20 largest and most liquid cryptocurrencies by market capitalization.The index is market-cap weighted with a cap on individual weights and is rebalanced quarterly to reduce the risk of concentration in a single asset. The CoinDesk 20 is selected from the top 250 cryptocurrencies by market capitalization, excluding stablecoins, meme coins, privacy coins, and various pegged/wrapped assets.