Cryptocurrency Trading Fund Launched At Coinbase

Coinbase has announced its intention to offer a cryptocurrency trading fund, in addition to the opportunity to trade cryptocurrencies directly on their exchange. The Coinbase Index Fund was launched on March 6, 2018, and their entry into asset management means they are likely to position themselves in financial services or banking in the near future.

The Coinbase Index Fund

The index fund will invest in the cryptocurrencies currently invested in on Coinbase via the GDAX exchange, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Initially, the index fund will only be available to accredited investors in the United States or those with incomes in excess of $200,000 or with a net worth of $1 million. However, Coinbase hopes to launch an ETF on similar lines that will be open to all investors.

Reuben Bramanathan, the product lead for the Coinbase Index Fund, stated, “We are working towards funds that will be available to all retail investors. We’re expecting huge demand from retail when that’s available, and we want to be in a position to accept that demand”. He did not give anticipated dates for when the retail fund is likely to be available, or when the Coinbase Index Fund is officially likely to start trading.

$10,000 Initial Deposit

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