Coinbase announced back in March their intent to launch an Index Fund, allowing “U.S. resident accredited investors” to invest in a cryptocurrency linked fund. The Coinbase index fund allows users to invest in Bitcoin, Ethereum, Litecoin, Bitcoin Cash and any future assets listed by Coinbase.
Coinbase index fund Launches
After much anticipation Coinbase announced on 12th June, 2017 that the Coinbase Index Fund is now open for investment. Initially investments will be capped to anyone who is looking to invest between $250,000 – $20,000,000 ($250k-$25million).
We’ve seen overwhelming interest from investors since we announced the fund earlier this year. At this stage, we have opened the fund to those who wish to invest $250,000 to $20M.
The fund will offer the chance to invest into all assets listed on the Coinbase exchange and will be weighted by each individual market cap. This will be re-adjusted for the arrival of Ethereum Classic.
The Index Fund is one of many recent developments by Coinbase, this particular move is to target wealthier individuals and institutional investors. The idea with the Index Fund is to offer security combined with regulatory compliance which may have previously put off due to these concerns.
Coinbase have recently launched Coinbase Pro, while also announcing GDAX becomes Coinbase Pro at the end of June 2018.
Coinbase announced at the end of March, 2018 their intentions of adding support for ERC20 tokens on their exchange, although no specific altcoins have been named.
Finally Coinbase are in the process of becoming a regulated securities broker, pending approval from the SEC. This would further improve their position as one of the leading names in the cryptocurrency industry. Coinbase have been branded the Goldman Sachs of the cryptocurrency industry and this recent development could see huge amounts of institutional investment into the markets.
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