Coinbase Unveils COIN50 Index to Monitor Leading 50 Crypto Assets

Coinbase, a leading US-based cryptocurrency exchange, has launched a new benchmark tool to monitor the digital assets market. Known as the Coinbase 50 Index (COIN50), this regulated index tracks the performance of the top 50 cryptocurrencies on the platform, offering a fresh way to assess market trends.

A Comprehensive Market Tracker

The COIN50 represents the 50 largest crypto assets meeting stringent criteria for token economics, blockchain architecture, and security. To qualify, assets must not be pegged to other cryptocurrencies, must have most of their token supply publicly circulated, and must be free of any known security vulnerabilities.

Coinbase described the index as “a market cap-weighted index of the top 50 assets that meet the index’s criteria.” The index will be rebalanced quarterly, allowing traders to benchmark their returns and track broader market performance with precision.

Currently, the COIN50 encompasses approximately 80% of the cryptocurrency market’s capitalization. However, Coinbase plans to expand this initiative over time, aiming to create a broader index that reflects the growing and diversifying cryptoeconomy. “This path sets the foundation for our indices to evolve alongside the industry,” Coinbase stated, emphasizing its commitment to providing reliable price discovery and a comprehensive benchmark.

Eligible institutional and retail traders can now access the COIN50 through a perpetual futures contract available on Coinbase International Exchange and Coinbase Advanced. However, the contract is not available to users in the US, UK, and Canada due to regulatory restrictions.

Coinbase also announced its intention to explore additional avenues to offer traders exposure to the index, signaling more innovations in the pipeline.

By launching the COIN50, Coinbase aims to bridge the gap for investors seeking a reliable tool to measure market trends, benchmark their portfolios, and gain insights into the cryptoeconomy’s performance.