ProShares Launches First-Ever U.S. ETF for "One-Click Access to Top 20 Crypto Assets"

BlockBeats News, February 4th, Asset management company ProShares announced the launch of the KRYP ETF, the first cryptocurrency asset ETF in the United States tracking the CoinDesk 20 Index, providing investors with exposure to a basket of the 20 largest and most liquid cryptocurrencies by market capitalization.

The index is market-weighted with weight caps and undergoes quarterly rebalancing to reduce single-asset concentration risk. The CoinDesk 20 is selected from the top 250 cryptocurrencies by market capitalization, excluding stablecoins, meme coins, privacy coins, and various types of pegged/wrapped assets.

ProShares stated that as the cryptocurrency market matures, investors are shifting from individual assets to a more diversified allocation. KRYP aims to provide a decentralized investment channel into the cryptocurrency market through a single ticker.