Coinbase, a leading cryptocurrency exchange, has launched a new index called the Coinbase 50 Index (COIN50), aimed at providing institutional and retail investors outside key Western markets with a benchmark for tracking top digital assets.
The COIN50 Index, announced on Nov. 12, includes over 50 major cryptocurrencies listed on Coinbase, with six assets—Bitcoin, Ether, Solana, Dogecoin, XRP, and Cardano—comprising 91% of the index’s weight. The index allows investors to track market trends within the crypto sector and is available through perpetual futures contracts on the Coinbase International Exchange for eligible institutional clients. Retail users can also access the COIN50 through Coinbase Advanced, making it accessible to a broader audience.
Coinbase introduced the COIN50 Index on Nov. 12, 2024, marking the company’s latest attempt to provide a market-tracking tool for digital assets. This initiative follows Coinbase’s previous effort in 2018, when it launched the Coinbase Index Fund. That product, which required a $250,000 minimum investment, was later discontinued as Coinbase shifted to include retail users with more accessible products.
The COIN50 Index targets emerging markets and crypto-friendly jurisdictions, excluding the United States, United Kingdom, and Canada due to regulatory restrictions on derivatives products in these regions. Coinbase’s focus on these international markets aligns with its strategy to expand offerings where regulations are more conducive to digital asset trading.
The COIN50 Index aims to position Coinbase within the competitive landscape of crypto indexes, joining the ranks of other industry benchmarks like the S&P Cryptocurrency Indices and the Nasdaq Crypto Index (NCI). As institutional interest in digital assets grows, Coinbase is offering this index to attract traders and investors seeking reliable market benchmarks. The launch reflects Coinbase’s strategy to compete with established financial players in providing data-driven insights into the crypto market.
The COIN50 Index provides exposure to the broader crypto market through perpetual futures, allowing investors to speculate on the assets indefinitely. Competing products, such as Nasdaq’s NCI, which includes eight cryptocurrencies with a focus on Bitcoin and Ether, have posted strong returns this year, with the NCI showing a 113.4% gain as of Nov. 11. By launching COIN50, Coinbase aims to offer international traders a comprehensive tool to capture market trends while broadening its appeal among global investors.
