Coinbase launches COIN50 index to rival S&P 500 in crypto markets

Share This Post

Coinbase has unveiled its crypto benchmark, the Coinbase 50 Index (COIN50), which will track the aggregated performance of the top 50 cryptocurrencies by market capitalization.

The index’s rationale is to provide a comprehensive view of the crypto market by distilling thousands of digital tokens to a select 50 based on fundamental standards and market size.

According to the announcement, the COIN50 aims to be the crypto version of the S&P 500. Its assets are selected and weighted by market capitalization, representing 80% of the crypto market’s total size. 

COIN50 could evolve as a cornerstone for diversified exposure to crypto’s core sectors, providing a reliable indicator of the industry’s overall performance.

VanEck head of digital assets research Matthew Sigel said:

“The COIN50 Index applies a fundamental filter to the selection process to ensure investability, adding an extra layer of rigor.”

Sigel added that the COIN50 uses VanEck’s MarketVector product focused on index creation.

Bitcoin-heavy index

The COIN50 currently weighs 50.3% of its distribution in Bitcoin (BTC), 27.5% in Ethereum (ETH), 6.4% in Solana (SOL), 3.1% in XRP, and 1.5% in Dogecoin (DOGE), while the remaining 45 coins are allocated only 11.2%.

Additionally, COIN50’s approach is distinct from that of other crypto indices, which have leaned heavily toward crypto infrastructure tokens, such as those powering layer-1 networks or smart contract platforms. 

Coinbase aims to break from this pattern, presenting an index that spans the main sectors within the crypto industry, such as “media and entertainment,” payments, and memecoins.

Notably, the COIN50 factsheet shows that the index’s yearly performance is 97.65%, with its best-performing assets being Quant (QNT), ZCash (ZEC), and Avalanche (AVAX).

According to data aggregator Artemis, the COIN50 yearly performance is much more significant than the crypto market’s average 19.4% returns in the same period.

The post Coinbase launches COIN50 index to rival S&P 500 in crypto markets appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Dogwifhat Price Prediction: After 39% Pump, Are WIF and STARS Next to Explode Like Dogecoin?

For meme coin investors, this week has been nothing short of euphoric Dogecoin has led the way by doubling in price, but smaller meme coins are taking over Dogwifhat has pumped 44% today – can

Pennsylvania introduces bill to use $7 billion state fund for Bitcoin Strategic Reserve purchases

Pennsylvania’s legislature has introduced landmark legislation for establishing a Bitcoin reserve, positioning the state at the forefront of digital asset policy in the United States The bill,

Dogecoin Eyes Parabolic Rally To Price Discovery, Is The 16,000% Surge From 2020 Possible This Time?

The Dogecoin price is again eyeing a parabolic rally that will put the meme coin in price discovery and send it to new highs in this market cycle Crypto analyst Mikybull Crypto indicated that the

Bitcoin Bull Tim Draper Eyes Trump’s Return as Catalyst for Private Sector Boom: ‘Very Excited’

This week, the bitcoin bull and venture capitalist Tim Draper shared his excitement on X about Donald Trump’s potential next term “Every job they cut in the government will create three

ICP identity protocol DecideID to launch on Solana eliminating any KYC need for DeFi

DecideAI has announced the integration of its biometric identity verification solution, DecideID, into the Solana blockchain, aiming to enhance security and trust within the ecosystem This move

‘PEPE Breakout Starts Now’ Says Analyst As Market Cap Shoots $10B Amidst Listing News

The post ‘PEPE Breakout Starts Now’ Says Analyst As Market Cap Shoots $10B Amidst Listing News appeared first on Coinpedia Fintech News Pepe’s market capitalization has briefly topped $102