ProShares has launched a new way to buy broad crypto exposure in a single trade: the CoinDesk 20 Crypto ETF, ticker KRYP. Announced in a Wednesday email, KRYP is the first U.S.-listed ETF tied to the CoinDesk 20 Index, a benchmark that tracks 20 of the largest and most liquid digital assets.
The index is market-cap-weighted but includes caps and is rebalanced quarterly to prevent any single cryptocurrency from dominating the fund. CoinDesk’s methodology pulls candidates from the top 250 coins by market capitalization and applies liquidity and exchange-listing screens. It also excludes stablecoins, memecoins, privacy-focused tokens and wrapped or pegged assets—aiming to deliver diversified, investable exposure to the broader crypto market.
“As the cryptocurrency market has matured, investors have increasingly looked beyond single-asset exposure,” ProShares CEO Michael Sapir said, describing KRYP as a way to access the wider asset class through one ticker.
KRYP expands ProShares’ crypto lineup: the firm already manages one of the largest suites of U.S. crypto-linked funds, including 13 ETFs and several mutual fund products. For investors seeking multi-asset crypto exposure without building a basket themselves, KRYP provides a streamlined, index-based option.
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