Coinbase launches Index Fund for accredited investors

Coinbase, the San Francisco-based cryptocurrency exchange, announced yesterday that its index fund is now available.  The fund, which is only open to accredited US investors, is designed for those who can invest between $250,000 and $20 million, typically referred to as institutional investors. 

Brian Armstrong, Coinbase CEO, took to Twitter to discuss the fund, stating, "Investing in Coinbase Index Fund is the easiest way to get exposure to a broad range 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."

Armstrong added, "Coinbase Index Fund gives investors exposure to all assets listed on our exchange, weighted by market capitalization. As we announced yesterday, the fund will be rebalanced to include Ethereum Classic, and more assets when they are listed by Coinbase in the future."

While the index fund is open only to institutional investors, Coinbase has repeatedly discussed other funds that will be “accessible to all investors and cover a broader range of digital assets.” 

Coinbase has over 20 million customers worldwide and trades more than $150 billion in assets.  It has been busy expanding its portfolio lately through several initiatives.  Apart from the index fund, it recently launched a line of options for institutional investors and, in April, created the Coinbase Ventures incubator, a fund that invests in startups working to enhance cryptocurrency and blockchain technologies.  Of the fund, Coinbase has stated that it will be “providing financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way.”

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