Coinbase Exchange is to come out with a crypto “Index Fund” (4 coins) — only for “accredited investors”
Coinbase, the US largest crypto exchange, is coming out with a 4-coin Crypto Index fund for “accredited investors”. What qualifies as an accreditited investor? That would people investors with $1M in investible funds and/or $200,000 salary.
There is 2% mgmt fee per year for this fund.
We have to remember, Coinbase is launching a coinbase “plug-in app” for many sites and this could be one of the offerings. The fund will be weighted by market cap. Coinbase sells: Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
Below is a representative graph of the index fund from the Coinbase Blog https://blog.coinbase.com/announcing-coinbase-index-fund-3925fbf548db:
I think all of this is great news. Earlier today there was a story that a US Court ruled that crypto’s will indeed by viewed as a “commodity”.
Hopefully, with a cryptocurrency index fund more poeple will be inclined to invest in this market. Thank you for the interesting post!
This is just a “tip of iceberg” what is coming my friend..... :-)
check out Coinlion.com great crypto exchange that will allow you to build and manage your own portfolios. Tip of the iceberg indeed..
This may well force wall street to get involved, they don't want to be missing out on easy money like this by creating index funds.
Wall Street is involved but they don't want people to know they are. CBOE/CME both set-up bitcoin futures contracts. Goldman is coming out wiht a Bitcoin trading desk in June. Nasdaq owns part of Coinbase ...look into the Digital Currency Group ....look who owns them. You will see that much is being done ...getting positioned for what is to come.