BlockBeats News, June 28th - 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 to launch an ETF tracking the top 50 digital assets by market capitalization, called the "Coinbase 50 Index ETF." The index product was launched by the largest U.S. cryptocurrency exchange Coinbase at the end of 2024, with quarterly adjusted component stock weights. Currently, its top three holdings are Bitcoin (50%), Ethereum (about 21%), and XRP (9%).
Reportedly, KraneShares, founded by Jonathan Krane in 2023, is an investment firm based in New York that focuses primarily on China, climate, and alternative investment areas. The company is majority-owned by the prominent Chinese financial services firm China International Capital Corporation (CICC).
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