Introducing the Coinbase Index Fund
Coinbase Index Fund gives investors exposure to all assets listed on the GDAX exchange, weighted by market capitalization. The fund will later be rebalanced to include Ethereum Classic.
At this stage, Coinbase Index Fund is only open to US-resident accredited investors. They are working on launching more funds which are accessible to all investors and cover a broader range of digital assets.
Learn more in the video below.
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Nice breakdown Chronos.
Interesting to see the fund take such a broad approach as to include also Litecoin and Ethereum Classic.
Litecoin might be understandable considering it has been used as a testnet and replacement for the BTC chain when it got clogged. Although I wouldn't bet on it having the same place in terms of utility in the future, it's still probably a great speculative bet.
Being primarily somewhat of a meme coin (same as Dogecoin) and now having to compete with Bitcoin Cash, doesn't necessarily mean LTC price itself will stay flat or go down — or even that its total amount of use will decrease either.
Ethereum Classic I suppose could be seen as hedge against Ethereum, but I do wonder how much is actually being built for it these days. Last I heard the chain was in kind of a rut and not going so well.
Yes, it's an interesting choice. It does kind of make sense for their market basket to contain the coins they offer for trade. I'm more surprised to see ETC being added to GDAX.
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