The Crypto Market is Evolving. Is Your Strategy?

February 04, 2026
STRATEGY Crypto-linked icon Crypto
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An Evolving Crypto Landscape

The cryptocurrency market has expanded rapidly, with new technologies and networks gaining traction each year. As the broader crypto market continues to evolve, the leaders of today aren't guaranteed to be the leaders of tomorrow. Focusing on just one cryptocurrency, like bitcoin, can lead to missing out on emerging opportunities across the broader crypto market.

Taking a More Diversified Approach to a Dynamic Market[1]

As the crypto landscape grows, many investors are looking for ways to get exposure to the ever-expanding crypto market without relying on individual asset selection. The CoinDesk 20, which is a broad-based index, was designed to act as the benchmark for the crypto asset class. Indexing has long helped investors cut through market noise, offering broad exposure without requiring constant research or active decision-making. The same disciplined approach can be applied to the cryptocurrency market, where a rules-based index provides broad exposure that evolves with the market.

The CoinDesk 20 measures the performance of 20 of the largest and most liquid cryptocurrencies. It is rebalanced quarterly to keep pace with changes in the crypto market. Unlike other indices that follow a traditional market cap weighted approach, the CoinDesk 20 applies caps to limit concentration in top assets.

KRYP: ProShares CoinDesk 20 Crypto ETF

The first ETF to target the performance of the CoinDesk 20 Index, a curated basket of 20 cryptocurrencies providing broad exposure to the asset class while reducing concentration in the largest coins.

KRYP invests in cryptocurrency derivatives and does not invest directly in cryptocurrency. There is no guarantee the fund will meet its investment objective.

  

First and Only CoinDesk 20 ETF

KRYP is the only ETF based on the CoinDesk 20, an index that curates its constituents excluding memecoins, stablecoins and certain other coins.

Diversify Exposure to Crypto[2]

Offers diversified exposure to 20 of the largest cryptocurrencies with a single ticker.

Adapt with the Market

Rebalances quarterly to dynamically capture emerging crypto leaders and limit concentration in any single coin.

 

 

CoinDesk 20 Index Details
Number of Constituents 20
Eligibility Top 250 by market cap excluding stablecoins with additional liquidity and exchange listing requirements
Weight Caps

30% cap on the largest member, 20% cap on all other members
Maintenance Quarterly reconstitution and rebalancing
Exclusions Memecoins, privacy tokens. wrapped assets, staked assets, pegged assets, and gas tokens
Market Capture[3] Captures 90% of the digital asset market

 

 

CoinDesk 20 Index Constituents as of 1/31/26
The CoinDesk 20 captures a cross-section of the crypto ecosystem, spanning digital currencies, DeFi protocols, smart contract platforms, and blockchain infrastructure
Name Ticker Weight Description

Bitcoin

BTC

30.28%

First and largest cryptocurrency, launched in 2009 as decentralized digital currency

Ethereum

ETH

19.72%

Decentralized platform for smart contracts and dApps, powered by ether

Binance Coin

BNB

16.22%

Cryptocurrency that runs on layer 1 BNB chain, and enables discounted trading fees on Binance Exchange

XRP

XRP

14.80%

Digital asset for fast, low-cost cross-border payments, developed by Ripple Labs

Solana

SOL

9.26%

High-performance blockchain for decentralized apps and crypto projects, known for speed

Cardano

ADA

1.67%

Blockchain platform focused on scalability and sustainability, using proof-of-stake

Bitcoin Cash

BCH

1.54%

Bitcoin form for faster, lower-fee transactions, used for peer-to-peer payments

Chainlink

LINK

1.06%

Decentralized oracle network connecting smart contracts with real-world data

Stellar

XLM

0.87%

Blockchain network for cross-border payments and connecting financial institutions

Litecoin

LTC

0.70%

Peer-to-peer cryptocurrency, designed to produce faster, more efficient transactions than Bitcoin

Sui

SUI

0.67%

Layer 1 blockchain for high scalability and low latency, optimized for digital assets

Avalanche

AVAX

0.65%

Blockchain platform for high throughput and low latency, supporting dApps and custom chains

Hedera Hashgraph

HBAR

0.59%

Public network using hashgraph consensus for fast, secure transactions and enterprise apps

Cronos

CRO

0.46%

Blockchain network designed for rapid transactions, decentralized applications, and Web3 development

Uniswap Protocol Token

UNI

0.43%

Decentralized exchange protocol on Ethereum for automated token swaps

Aave

AAVE

0.30%

Decentralized finance protocol for lending and borrowing cryptocurrencies

Near

NEAR

0.23%

Layer 1 blockchain focused on usability and scalability for dApps and smart contracts

Internet Computer

ICP

0.23%

Blockchain network extending public internet for decentralized applications

Polkadot

DOT

0.17%

Multi-chain network enabling interoperability and scalability between blockchains

Aptos

APT

0.15%

Layer 1 blockchain for safety and scalability, developed with Move programming language

 

These percentages reflect each cryptocurrency’s index weight. The fund seeks corresponding exposure using cryptocurrency derivatives, does not invest directly in cryptocurrencies, and may not achieve its investment objective.

 

1., 2. Diversification does not ensure a profit or guarantee against a loss.

3. Source: CoinDesk, 1/31/26

 

Learn More

KRYP

CoinDesk 20 Crypto ETF

Seeks investment results, before fees and expenses, that track the performance of the CoinDesk 20 Index.

Get the latest perspectives and updates.

Investing involves risk, including the possible loss of principal. There is no guarantee that any ProShares ETF will achieve its investment objective.​

This ETF invests in swap agreements and does not invest directly in crypto assets. Investors seeking exposure to crypto assets directly should consider an investment other than this ETF. Crypto assets are a relatively new asset class and the market for crypto assets is subject to rapid changes and uncertainty. Crypto assets are subject to unique and substantial risks, such as rapid price swings and lack of liquidity, including as a result of changes in their supply and demand, statements by influencers and the media, and other factors. Crypto assets are largely unregulated and may be more susceptible to fraud and manipulation than more regulated investments. The value of an investment in the ETF could decline significantly and without warning, including to zero. This ETF may not be suitable for all investors.​

This ProShares ETF is a non-diversified investment company and entails certain risks, including risks associated with the use of derivatives (swap agreements, futures contracts and similar instruments), counterparty risk, imperfect benchmark correlation, and market price variance, all of which can increase volatility and decrease performance. While the ETF’s index has 20 constituents, it may be heavily weighted in just a few crypto assets (e.g., Bitcoin, Ether, Binance Coin, Solana, XRP). As a result, their performance will have a much greater influence on the ETF’s performance than the remaining crypto assets in the index. The composition of the index can change significantly over time and many or all of the constituents may be replaced at each quarterly reconstitution. Smaller crypto assets tend to carry higher risks, including greater volatility and increased vulnerability to fraud or manipulation. This ETF is new and may have a limited number of market makers. There can be no assurance the fund will be successful or that an active market for its shares will develop. Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in the ETF’s summary and full prospectuses. Read them carefully before investing. Obtain them from your financial professional or visit ProShares.com.​

CoinDesk and CoinDesk 20 are registered trademarks of CoinDesk Indices, Inc., licensed for use by ProShares. CoinDesk Indices, Inc. does not make any representation as to the legality or suitability of ProShares, and does not sponsor, endorse, sell, or promote them. CoinDesk Indices, Inc and its affiliates make no warranties and bear no liability with respect to ProShares. THIS ENTITY AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.​

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

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