Basket

A basket, when used in the cryptocurrency space, refers to a collection of digital currencies managed as a single asset.

A basket, when used in the cryptocurrency space, refers to a collection of digital currencies managed as a single asset, minimizing the need for holders to monitor individual currencies continuously. A crypto basket is also used interchangeably with a crypto index fund. 

Crypto asset baskets gained momentum in 2018, which started by enabling the grouping of multiple coins and offering a single token to facilitate trading. Listing the token on an exchange allows users to trade it as a standard cryptocurrency. 

Other crypto index funds like the JPMorgan Cryptocurrency Exposure Basket take a different approach. Instead of directly putting together a group of coins, it tracks the shares of several companies interacting with cryptocurrency. Some of the companies in its basket include Microstrategy, Nvidia, Riot Blockchain, and Square.