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Coinbase Launches COIN50 Index, S&P 500 Equivalent for Crypto with 20x Leverage

Nov 12, 2024, 02:47 PM

Coinbase has launched the Coinbase 50 Index (COIN50), a new market-cap weighted index designed to track the performance of the top 50 cryptocurrencies listed on its platform. The index, structured similarly to the S&P 500, provides investors with a broad market exposure. The COIN50 index includes Bitcoin with a maximum weight of 50.3%, Ethereum at 27.5%, Solana at 6.4%, and a diverse mix of other cryptocurrencies, including Tezos, covering approximately 80% of the crypto market. It also incorporates a memecoin, APE, among its constituents. The index is now available for trading as a perpetual future with up to 20x leverage for eligible institutions and Coinbase Advanced users.