ProShares Launches Cryptocurrency Exchange-Traded Fund CoinDesk 20 Crypto ETF

Odaily News ProShares announced the listing of KRYP, the first U.S. ETF tracking the CoinDesk 20 Index, providing investors with a one-stop opportunity to gain exposure to the 20 largest and most liquid crypto assets.

The CoinDesk 20 Index employs a market-cap-weighted, quarterly rebalancing mechanism while setting concentration caps to achieve diversified exposure and limit single-coin concentration risk. The index selects from the top 250 digital assets by market capitalization, excluding stablecoins, meme coins, privacy coins, and various derivative or pegged assets.

ProShares CEO Michael Sapir stated: "As the crypto market matures, investors are increasingly focusing on multi-asset exposure. KRYP allows investors to gain broad market access through just one ticker."

ProShares already offers 13 crypto-related ETFs and other mutual fund products in the U.S. This launch further enriches its suite of crypto asset investment tools. (CoinDesk)