Author: Gan Jia Ci
Cryptocurrency exchange giant Coinbase has just officially launched a new index fund product that was first unveiled in March.
The official announcement comes from Product Lead Reuben Bramanathan in a blog post published yesterday.
Bramanathan revealed that they have seen “overwhelming interest from investors” since the initial announcement. The Coinbase Index Fund is now “open for investments” for amounts from $250,000 to $20 million.
The fund will provide investors with access to all the assets listed on Coinbase, weighted by market capitalisation. Some of the notable assets include Bitcoin, Ethereum, Litecoin and Bitcoin cash. The fund will be “rebalanced to include Ethereum Classic”, while other assets will also be added when they are listed on the exchange platform in future.
While the fund is currently only open to accredited investors in the US, Coinbase promises to launch more funds that will give exposure to all investors, as well as a more diverse range of digital assets. However, no definite timeline for the plan has been released as of now.
Coinbase CEO Brian Armstrong also tweeted about the new fund just before the launch, highlighting the difference between it and existing funds in the market. He basically guaranteed a better and more stable service with lower rates.
Investing in Coinbase Index Fund is the easiest way to get exposure to a broad range get of crypto assets.
Much cheaper than 2 and 20% charged by most crypto hedge funds, and you get new assets automatically added to the fund as they become available on Coinbase. No rebalancing. https://t.co/TyOnDuFMT9
— Brian Armstrong (@brian_armstrong) June 13, 2018