Coinbase Unveils COIN50 Index with Futures Trading, Aims to Be Crypto’s S&P 500

Coinbase, the leading U.S. cryptocurrency exchange, launched the Coinbase 50 Index (COIN50) today, positioning it as crypto’s answer to the S&P 500. The new benchmark tracks the performance of the top 50 digital assets listed on its platform, capturing approximately 80% of the total cryptocurrency market capitalization.

The index launch comes at a significant moment for the crypto market, with Bitcoin approaching $90,000 and the global crypto market cap surging past $3 trillion.

The COIN50’s composition reflects the current market landscape, with Bitcoin weighted at 50.3%, Ethereum at 27.5%, and Solana at 6.4%. XRP and Dogecoin round out the top five with 3.1% and 1.5% respectively, while the remaining 45 assets collectively account for 11.2% of the index.

Starting today, eligible traders outside the United States, United Kingdom, and Canada can trade the index through a perpetual futures contract (COIN50-PERP) with up to 20x leverage. The trading service will be available on both Coinbase International Exchange for institutional users and Coinbase Advanced for retail traders.

The index was developed in partnership with Coinbase Asset Management and Market Vector Indexes, building on their experience with previous indices like the Coinbase Core Index and Coinbase Size Tilt. Assets are selected based on fundamental criteria, including token economics, blockchain architecture, and security considerations.

Coinbase has indicated that this is just the beginning, with plans to expand the index’s scope as the crypto market continues to mature. The company is also exploring additional ways for users to gain exposure to the index, though specific details have not been announced.