KraneShares, a New York-based asset management firm, has officially filed an application with the U.S. Securities and Exchange Commission (SEC) to introduce a new ETF that will track the top 50 digital assets by market capitalization. This proposed fund, named the Coinbase 50 Index ETF, is designed to mirror the index launched by Coinbase, the largest cryptocurrency exchange in the United States, which features quarterly rebalanced holdings. The index prominently includes Bitcoin (50%), Ethereum (approximately 21%), and XRP (9%) as its leading assets.
Founded in 2023 by Jonathan Krane, KraneShares specializes in ETFs with a focus on China, climate, and alternative investments. The firm is significantly backed by China International Capital Corporation (CICC), a major player in Chinese financial services. This strategic move to launch a diversified crypto ETF aligns with growing institutional interest in regulated digital asset investment vehicles, reflecting the maturation of the cryptocurrency market within traditional finance frameworks.