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Coinbase launches COIN50 index tracking major assets BTC, ETH, SOL, XRP, and DOGE

Estefano Gomez

Nov. 12, 2024

Coinbase’s latest index captures the top 50 digital assets, with Bitcoin and Ethereum making up nearly 80% of the weighting.

Key Takeaways

COIN50 tracks the top 50 digital assets, offering a diversified, market-cap-weighted benchmark for crypto investment.
Starting today, eligible traders can trade the COIN50 Index via COIN50-PERP on Coinbase International Exchange and Coinbase Advanced.

Coinbase has launched the Coinbase 50 Index (COIN50), a benchmark designed to track the performance of the top 50 digital assets listed on its exchange, with Bitcoin and Ethereum making up a substantial portion.

According to the index, Bitcoin holds the highest weight at 50.3%, while Ethereum accounts for 27.5%.

Other assets, such as Solana (6.4%), XRP (3.1%), and Dogecoin (1.5%), also contribute, with the remaining 45 assets collectively representing 11.2%.

Developed with Coinbase Asset Management and Market Vector Indexes, COIN50 covers approximately 80% of the crypto market, excluding stablecoins.

The index undergoes quarterly rebalancing and includes assets that meet Coinbase’s legal, compliance, and security standards.

Coinbase is also introducing a COIN50 perpetual futures contract (COIN50-PERP) on its International Exchange for institutional traders and for eligible retail users.

“We’re exploring additional ways for users to gain exposure to the Index,” a Coinbase spokesperson explained. “As the crypto market matures, our goal is to significantly broaden the index to match its growing size and diversity.”

One of the core challenges in crypto investing is managing the inherent volatility and risk. The COIN50 Index addresses this by updating its weighting quarterly.

“Cryptocurrency markets are constantly evolving and fluctuating. By updating the index weighting quarterly, we are ensuring an accurate representation of the market so traders can properly benchmark performance,” a Coinbase spokesperson added.

The selection process for COIN50 involves fundamental criteria including token economics, blockchain architecture, and security. The index builds on a three-year track record of Coinbase Indices managed by Coinbase Asset Management.

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