Index Fund Launched By Coinbase Is Officially Open For Accredited U.S. Investors 

Several months ago cryptocurrency exchange Coinbase declared that it would be launching index fund for digital currencies, enabling investors without any efforts to purchase coins traded on Coinbase’s exchange GDAX, lately renamed to Coinbase Pro.

Currently, the fund is officially open for U.S. accredited investors who choose to invest from $250,000 to $20 million.

In a blog entry issued on Tuesday,  Asset Management Product Lead of Coinbase Reuben Bramanathan marked that the company has met “overwhelming interest from investors” due to the initial announcement.

The  annual management fee of the Coinbase Index Fund is 2%. Coinbase Index Fund makes investments in all four coins which are at the moment listed on Coinbase Pro, weighted by market cap — Bitcoin, Ethereum, Bitcoin Cash and Litecoin. According to Coinbase’s notification, a fifth cryptocurrency — Ethereum Classic — will be attached to this list in further months.

In case the requirements seem to be prohibitive, there’s still hope. The post mentioned that Coinbase is “working on launching more funds which are accessible to all investors and cover a broader range of digital assets.” There are other alternatives for the individuals. You can, for instance, freely monitor the fund’s implementation through investing in the same cryptocurrencies straight via Coinbase. Otherwise you can acquire a token like Crypto20, which is a tokenized index fund that monitors the operation of 20 large cryptocurrencies.

Coinbase has been intensively developing its services and products portfolio to ensure organizational investors this year. In last month, the company mentioned four new major products that serve to the requirements of pro investors, among them a central liquidity pool, secure cryptocurrency storage, a professional-grade trading platform and of course research and support services.

 

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