₿₿ Coinbase To Launch Its Own MF!
Coinbase the largest crypto market here in the USA now has its sights on its own MF for the stock market. This will tap cryptocurrency into a 80 Trillion dollar market!
Coinbases index fund is slated to be 1.6 Billion dollar valuation and boosts more then 500,000 accounts!
The index fund MF will allow those in stock markets to tap into all the crypto coinbase offers that would be Bitcoin, Bitcoin cash, Litecoin and Ethereum.
Coinbase will charge a 2% fee under management while other funds charge 2.5% and 3% which might not seems like a big difference but when dealing with the stock market 1% or even 0.5% over time can seriously eat away at your profits which makes Coinbases offer much more attractive.
The fund will also accept money from USD and crypto!
Also the rummors of Ripple being added to coinbase have been debunked. Thank Goodness I dislike Ripple majorly.
Curious how this will work, I know the SEC haven't approved any applications for ETFs.
Presumably this will just be listed on Coinbase?
It is not an ETF just a private fund based in an index. It will not be publicly traded so it will work like a mutual fund. They can do this because they are limiting it to accredited investors.
Perfect, thanks for the succinct clarification, you just earned a follow!
Eh I do believe some ETFs are passed and currently running
Well as always with the crypto regulatory landscape things are never clear, I was referring to this article from Feb:
https://www.ft.com/content/7db2933c-e40a-11e7-a685-5634466a6915
I tried to share the relevant part but got a warning from FT! It was second paragraph down.
So they just applied for one or did they actually get approved? Because that's a big difference seeing a number of other crypto based companies have tried similar things and failed.
I need to understand or learn more about MF. Thanks for up-to-date us about cryptocurruncies and blockchain.
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I am new to crypto.Love to read your knowledge exolaied in awsome way
Well Bullish for Crypto in general, but coinbase service is some what to be desired.
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Hurray for Ripple!
Give them nothing, take everything! Ripple sucks \o/....
...what also sucked was the downward trend today, that crash really alarmed me.
thanks for the info good post