SEC filing shows BTC, ETH and XRP dominate proposed S&P crypto ETF

A newly filed crypto exchange-traded fund would be heavily weighted towards bitcoin, ethereum and XRP, according to a US regulatory filing.

Cyber Hornet ETFs LLC submitted a Form S-1 to the US Securities and Exchange Commission on January 12 for the Cyber Hornet S&P Crypto 10 ETF.

The product is designed to track the S&P Cryptocurrency Top 10 Index, which ranks assets by market capitalisation and rebalances quarterly.

“The Index comprises the ten largest cryptocurrencies by market capitalisation, weighted by market capitalisation,”

The filing said.

The latest index weighting allocates about 69.9% to bitcoin, 14.6% to ethereum and just over 5% to XRP.

Together, the three largest assets account for nearly 90% of the benchmark’s total weight.

Other index constituents include solana, cardano, chainlink, stellar and bitcoin cash with significantly smaller allocations.

The sponsor said Binance Coin and TRON were deemed ineligible for inclusion in the ETF despite being part of the index.

Excluded assets may lead to reweighting among remaining eligible cryptocurrencies or substitution at the sponsor’s discretion.