MutualFundWire.com: Sapirs Offers a Crypto Index Tracker

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Monday, February 9, 2026

Sapirs Offers a Crypto Index Tracker

The folks at a $95-billion-AUM* fund firm (one that specializes in leveraged, inverse, and thematic ETFs) are rolling out another index exchange-traded fund.

Last Wednesday (February 4), Michael Sapir, CEO of ProShares [profile], unveiled the launch of the ProShares CoinDesk 20 Crypto ETF (KRYP on the NYSE Arca). Bethesda, Maryland-based ProShares serves as investment advisor to the new ETF.

KRYP's inception date was February 2. The new fund comes with an expense ratio of 58 basis points.

CoinDesk Indices serves as index provider to KRYP, which is designed to track the CoinDesk 20 Index. Two PMs power the new ETF: George Banian, portfolio manager; and Alexander Ilyasov, senior PM.

Sapir puts the debut of KRYP in the context of investors looking "beyond single-asset exposure" in the cryptocurrency market.

"KRYP is the only ETF designed to provide diversified exposure to the broader crypto asset class in a single ticker, using a transparent, rules-based approach that limits concentration risk and adapts as market leadership changes over time," Sapir states.

KRYP is a passively managed series of ProShares Trust. The new ETF's other service providers include:

ACA Group as provider of a principal financial officer and treasurer;

JPMorgan Chase Bank, N.A. as administrator, custodian, index receipt agent, securities lending agent, and transfer agent;

PricewaterhouseCoopers LLP as independent accounting firm;

SEI Investments Distribution Co. as distributor and principal underwriter; and

Ultimus Fund Solutions, LLC as legal administrative services provider.