XRP News Today: KraneShares Files for Coinbase 50 Index ETF Tracking 50 Largest Cryptocurrencies

KraneShares, a prominent asset management firm, has filed with the U.S. Securities and Exchange Commission to launch the “Coinbase 50 Index ETF.” This ETF aims to track the performance of the 50 largest cryptocurrencies by market capitalization, providing investors with a diversified exposure to the digital asset market. The index, introduced by Coinbase in late 2024, is rebalanced quarterly and currently allocates 50% to Bitcoin, 21% to Ethereum, and 9% to XRP.

This move by KraneShares reflects a broader trend in the financial industry, where traditional asset managers are increasingly looking to capture inflows into digital assets. The firm, founded in 2023 by Jonathan Krane, is known for its funds targeting China, climate themes, and alternative assets. KraneShares is majority-owned by China International Capital Corporation, a leading financial institution, highlighting the international interest in bringing regulated crypto investment products to U.S. markets.

ETF Store President Nate Geraci suggested that a surge of similar crypto index ETF applications could follow, reflecting growing investor demand for diversified crypto exposure. This trend is supported by the fact that over 70 crypto ETFs are currently awaiting review by the SEC, highlighting rising interest in assets beyond Bitcoin and Ethereum. The lineup features a broad range of digital assets, including XRP, Litecoin (LTC), Solana (SOL), Dogecoin (DOGE), and various crypto derivatives.

According to analysts, spot ETF applications for XRP and Solana are among the most popular in the current wave, with 10 institutions applying for XRP-based ETFs and six for Solana. These numbers suggest rising institutional interest in diversifying crypto exposure beyond just Bitcoin and Ethereum. The surge in applications shows growing market demand and a shifting regulatory environment in the U.S.

KraneShares' move into crypto ETFs signals a broader shift as traditional asset managers look to capture inflows into digital assets. The firm’s reputation for alternative asset funds and its international backing position it well to navigate the evolving landscape of digital asset investments. As more investors seek diversified exposure to the crypto market, the launch of the Coinbase 50 Index ETF could pave the way for similar products, further integrating digital assets into mainstream investment portfolios.