Importantly, the index is designed not only to provide broader exposure across the crypto market, but also to limit concentration in its largest assets. Bitcoin and ether represent a large share of total crypto market capitalization, meaning a traditional market-cap-weighted index would be dominated by those two assets.

The CoinDesk 20 Index addresses that concentration through a modified market capitalization weighting methodology. The index applies:

· 30% cap on the largest constituent

· 20% cap on all other constituents

These caps limit concentration in a single crypto asset and allow other major cryptocurrencies to play a larger role in the index.

Left: Source: CoinDesk, as of June 30, 2026. Right: ProShares hypothetical calculation…