Coinbase, the largest cryptocurrency exchange in the US by volume, has announced a new listing. This time, the announcement pertains to index listings in futures trading, which is a global offering rather than just for the US market. What does this recent listing mean for the crypto space?
Details of the Coinbase Listing
Today, Coinbase introduced the COIN 50 index, allowing positions in 50 major cryptocurrencies. Instead of taking individual positions in each cryptocurrency, investors can invest in a bundled package, similar to stock funds. The current price for COIN 50 is $383, showing a 5% increase for the day.
Advantages of the COIN 50 Index
One of the significant advantages of this index is the reduced likelihood of encountering abnormal price fluctuations. The COIN 50 index is primarily composed of 50% BTC and 28% ETH. Other cryptocurrencies, such as SOL and XRP Coin, hold smaller percentages, while DOGE comprises 1.4% of the index.
Coinbase’s latest move allows for positions in futures while investing in this diversified basket, making it an interesting option for traders.
