Coinbase launches ‘Coin50’ index for top 50 digital assets

Coinbase has just launched the crypto equivalent of the S&P 500, with its new ‘COIN50’ representing the top 50 digital assets listed on the exchange.

The company announced the Coinbase 50 Index on November 12, introducing it as a “regulated crypto benchmark developed in partnership with Coinbase Asset Management and Market Vector Indexes.”

The new offering is a market cap-weighted index of the top 50 assets that meet the index’s criteria, with traders now able to use this to track the performance of the broader crypto market and benchmark their returns.

It works in a similar way to traditional finance options, like the S&P 500, with the company creating the index so investors can gain diversified exposure to the market.

Meet the Coinbase 50 Index (COIN50), a whole new way to track the performance of the cryptoeconomy. https://t.co/cFF7G3YXYr pic.twitter.com/PmxkN9grvv

— Coinbase