ProShares launches CoinDesk 20 Crypto ETF

ProShares announced the listing of KRYP, the first US ETF tracking the CoinDesk 20 Index, providing investors with a one-stop shop for access to the 20 largest and most liquid crypto assets. The CoinDesk 20 Index employs a market capitalization-weighted, quarterly rebalancing mechanism and sets a concentration cap to achieve diversified exposure and limit the risk of concentrated holdings in a single coin. The index selects from the top 250 digital assets by market capitalization, excluding stablecoins, meme coins, privacy coins, and various derivatives or pegged assets. ProShares CEO Michael Sapir stated, “As the crypto market matures, investors are increasingly focused on multi-asset exposure. KRYP allows investors to gain broad exposure to the entire market with just one code.” ProShares already offers 13 crypto-related ETFs and other mutual funds in the US; this launch further enriches its suite of crypto asset investment tools. (CoinDesk)