According to ChainCatcher, The Block reports that the asset management company focused on ETFs, KraneShares, announced on Friday that it has filed with the U.S. Securities and Exchange Commission (SEC) to launch a "Coinbase50 Index ETF" that will track the top 50 digital assets by market capitalization. This index product, set to launch at the end of 2024 by the largest cryptocurrency exchange in the U.S., will adjust the weightings of its components quarterly. The three largest assets by weight currently are Bitcoin (50%), Ethereum (about 21%), and XRP (9%). KraneShares was founded by Jonathan Krane in 2023 and is an investment firm based in New York, primarily focused on China, climate, and alternative investments. The company is largely owned by China International Capital Corporation (CICC), a leading financial services organization in China.
