Hello @cryptographic,

Extraordinary good topic to discuss & I had no idea what INDEX FUND means:

HOW IS THIS DIFFERENT THAN INVESTING IN A CRYPTOCURRENCY?
When an investor puts money into the Coinbase Index Fund, they are betting on the long term success of the crypto market as a whole, rather than a single cryptocurrency. Specifically, the value of the fund will be tied to that of four of the best performing cryptos in ratios that reflect their market capitalization — that is, their total market value. Bitcoin represents the largest share of the market, so it represents the largest share of the index fund — 62 percent — followed by 27 percent ether, 7 percent bitcoin cash, and 4 percent litecoin.

Source: https://futurism.com/everything-coinbases-index-fund/

According to this description, Coinbase will be listed RIPPLE as the next cryptocurrency due to it's market capital. My argument is, If Coinbase Index Fund (CIF) is based on market capital, Steem & BitShares have no chance to be listed in near future.

~@mywhale