Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
ProShares introduces the inaugural U.S. ETF enabling simultaneous investment in the top 20 cryptocurrencies.
ProShares has launched KRYP, the inaugural U.S. ETF aimed at tracking the CoinDesk 20 Index, providing investors with access to the largest and most liquid cryptocurrencies.
ProShares has introduced KRYP, the first ETF in the U.S. aimed at tracking the CoinDesk 20 Index (Markus Winkler/Pixabay, modified by CoinDesk)
Key points to note:
- ProShares has launched KRYP, the initial ETF intended to follow the CoinDesk 20 Index.
- The fund provides a diverse range of exposure to 20 of the largest and most liquid cryptocurrencies.
- This index is rules-based, capped, and undergoes quarterly rebalancing to mitigate concentration risk.
ProShares has revealed the first U.S.-listed exchange-traded fund (ETF) focused on the performance of the CoinDesk 20 Index, broadening choices for investors looking for comprehensive exposure to cryptocurrency markets.
Related Posts
The CoinDesk 20 Crypto ETF (KRYP) represents the first ETF associated with the benchmark of 20 major and highly liquid digital assets, as stated by ProShares in a Wednesday announcement.
STORY CONTINUES BELOWStay informed with the latest news.Subscribe to the Crypto Daybook Americas Newsletter today. See all newslettersSign me up
The index is weighted by market capitalization, subject to limits, and is rebalanced quarterly, aiming to deliver diversified exposure while minimizing concentration in any single cryptocurrency.
“As the cryptocurrency market has developed, investors have increasingly sought options beyond single-asset exposure,” CEO Michael Sapir remarked in a statement, describing KRYP as a means to access the wider asset class through a single ticker.
The CoinDesk 20 selects assets from the top 250 based on market capitalization, enforcing liquidity and exchange-listing criteria, while excluding stablecoins, memecoins, privacy tokens, and various wrapped or pegged assets.
ProShares currently provides one of the most extensive collections of crypto-linked funds in the U.S., featuring 13 ETFs along with additional mutual fund offerings.
