Coinbase has launched the COIN50 Index, a new benchmark that tracks 50 of the most prominent digital assets on its platform. Announced on Nov. 12, this index is designed to provide traders and institutional investors outside of the U.S., U.K., and Canada with a broad view of crypto market trends. The COIN50 Index includes six leading cryptocurrencies—Bitcoin (BTC), Ether (ETH), Solana (SOL), Dogecoin (DOGE), XRP, and Cardano (ADA)—which together account for 91% of the index’s weight.
Targeting Emerging Markets and Crypto-Friendly Jurisdictions
The COIN50 Index reflects Coinbase’s focus on expanding its international offerings, primarily in regions with a more open regulatory environment for crypto derivatives. Eligible institutional investors can access the COIN50 via perpetual futures contracts on the Coinbase International Exchange, allowing them to speculate on the ongoing performance of the assets in the index. Additionally, eligible retail users will have access through Coinbase Advanced, a feature designed for more experienced traders.
Coinbase’s Expanding Index Portfolio
This isn’t Coinbase’s first venture into crypto benchmarks. In 2018, Coinbase launched its Coinbase Index Fund for institutional investors, which required a minimum investment of $250,000. However, the fund was shut down within four months as Coinbase shifted focus to create products accessible to a broader audience. The COIN50 represents a renewed commitment to offering diversified crypto exposure for both institutional and retail clients abroad.
Competing in a Crowded Market
Coinbase’s new index joins a competitive landscape of digital asset benchmarks from global index providers like S&P Global and Nasdaq. S&P Global currently offers a suite of eight crypto indexes, while the Nasdaq Crypto Index (NCI) includes eight digital assets, with Bitcoin and Ethereum accounting for about 90% of its weight. As of Nov. 11, the NCI has reported a 113.4% return year-to-date, reflecting the heightened interest and performance of the crypto sector.
