On June 28, according to The Block, KraneShares, an asset management company focused on ETFs, announced on Friday that it has submitted an application to the U.S. Securities and Exchange Commission, planning to launch a "Coinbase 50 Index ETF" tracking the top 50 digital assets by market capitalization. The index product will be launched by Coinbase, the largest U.S. cryptocurrency exchange platform, by the end of 2024, with constituent stock weights adjusted quarterly. Currently, its top three holdings are Bitcoin (50%), Ethereum (approximately 21%), and XRP (9%).
It is reported that KraneShares was founded by Jonathan Krane in 2023, is an investment company headquartered in New York, primarily focusing on China, climate, and alternative investments. The company is majority-owned by CICC, a well-known Chinese financial services institution.
