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Yes, but it would take a lot of work, and would need to be updated whenever market share for a coin changes.

Not really a lot of work. They only rebalance annually.

Edit: Looks like someone found the same info.

The index currently contains 4 coins. Quarterly (or monthly if you really would like) balancing of 4 assets would not be that difficult.

Wow, I didn't realize it was only 4 coins. It'd definitely be much easier and cheaper to do this yourself.