cryptojournalist
A New Way to Track Major Cryptocurrencies
Coinbase has just rolled out the COIN50 Index, a new tool to track the performance of 50 major digital assets on its platform. This index is designed for international markets, giving traders and institutional investors a snapshot of key trends in crypto.
The Big Players Leading the Index
The COIN50 Index heavily emphasizes six well-known cryptocurrencies: Bitcoin, Ethereum, Solana, Dogecoin, XRP, and Cardano. Together, these coins make up 91% of the index’s weight, meaning they play a major role in showing how the overall market is doing.
Limited Access to Derivatives Tied to the Index
Though COIN50 is available for international markets, derivatives—financial products that let investors speculate on the index’s future performance—are off-limits in the U.S., U.K., and Canada. Institutional traders abroad can use these derivatives through perpetual futures on Coinbase’s International Exchange. Some retail investors can also access them via Coinbase Advanced.
Note: A perpetual futures contract allows traders to bet on an asset’s performance without an expiration date, letting them stay invested indefinitely if they choose.
Coinbase’s Track Record with Crypto Benchmarks
Coinbase has tried this before: in 2018, it launched a crypto index fund for institutional investors, but it ended quickly as Coinbase shifted focus to create more options for retail investors.
Competing in a Crowded Index Market
The COIN50 enters an arena with other big crypto benchmarks like the S&P Cryptocurrency Indices and the Nasdaq Crypto Index (NCI). The NCI, launched in 2024, tracks eight digital assets with Bitcoin and Ethereum making up nearly 90%. As of November, this index has returned 113.4% for the year, showing just how quickly the crypto market can grow.
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