Quick overview

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ProShares, a well-known asset management company, has announced its plan to launch a new cryptocurrency exchange-traded fund (ETF) that will track the CoinDesk 20 Index. To do this, the company filed a submission with the Securities and Exchange Commission (SEC) and seeks approval.

Meanwhile, reliable sources have noted that this index, which measures the performance of the top 20 cryptocurrencies by market capitalization, is a key component of the cryptocurrency ecosystem. ProShares revealed the name of the new fund, which will be called the ProShares CoinDesk Crypto 20 ETF.

The firm states that it will enable investors to buy major cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana. However, the SEC filing clarified that this ETF is designed to replicate the performance of the CoinDesk 20 Index. Importantly, fees and other costs will not be included in this. Research from credible sources also indicates that the index will not contain a wrapped token

ProShares launched the first Bitcoin-related ETF in the United States in 2021 with a Bitcoin futures ETF. The company has actively developed more cryptocurrency-related investment options since its inception. The most recent filing revealed that several institutions favored diversified cryptocurrency baskets to help mitigate the uncertainty surrounding individual assets, which prompted

ProShares to increase its interest in this marketplace. The CoinDesk 20 Index is updated quarterly in terms of its development process. It contains some of the most traded coins, including ADA, XRP, SOL, ETH, BTC, and Avalanche.

ADA, HYPE, XLM, and SUI are among the ETFs that REX–Osprey has recently filed for, which is consistent with a larger trend. If authorized, the ProShares CoinDesk Crypto 20 ETF will rank among the first diversified crypto ETFs in the United States.