KraneShares Files KraneShares Coinbase 50 Index ETF with SEC

New York-based asset management company KraneShares has filed an application with the Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that tracks Coinbase’s index of the top 50 digital assets by market capitalization.

According to The Block, a digital asset-focused media outlet, on the 27th (local time), KraneShares announced that it had applied to the SEC for the 'KraneShares Coinbase 50 Index ETF'. This product is based on the 'Coinbase 50 Index', which U.S. digital asset exchange Coinbase launched at the end of last year. The Coinbase 50 Index is composed of the top 50 digital assets by market capitalization, and is weighted as follows: ▲Bitcoin (BTC) 50%, ▲Ethereum 21%, ▲Ripple (XRP) 9%.

Nate Geraci, president of The ETF Store, said, "This ETF filing is just the beginning," and added, "We expect the number of ETF applications tracking digital asset indexes to increase dramatically going forward."