The Coinbase Index Fund is now officially open for investment!
Coinbase Index Fund
Starting today, the Index Fund is open to investment starting from a minimum of $250,000 USD and ranging to a maximum of $20 million. It is only open for accredited investors who are residents in the US.
First announced back in March 2018, the Coinbase Index Fund is meant to “give investors exposure to all digital assets listed on Coinbase’s exchange, GDAX, weighted by market capitalization,” where they have highlighted that they are “excited to give [Coinbase] customers the ability to invest in the potential of blockchain-based digital assets as a whole.”
The cryptocurrency exchange also hopes that it will be able to open up more funds to investors in other parts of the world, as it is currently only open to US investors.
Coinbase tweeted that index funds “[provide] diversified exposure to a broad range of assets in one tool.”
Index funds have changed the way that many people think about investing, providing diversified exposure to a broad range of assets in one tool. We’re looking forward to giving clients the ability to invest in the potential of blockchain-based digital assets.
— Coinbase (@coinbase) June 12, 2018
Recently Coinbase announced that it would be adding support for Ethereum Classic (ETC) and hopes to add more assets to the fund in the future. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BTH) are currently part of the index system.
Social Media Response
Responses on social media regarding Coinbase’s Index Fund have highlighted the surprise about the addition of ETC to Coinbase.
Reactions have been a mixed bag of surprise and outrage with some positive outlooks:
— Salmon Addict (@EthereumAddict) June 12, 2018
This is the dead sea, the saltiest place on earth, second only to the XRP community after coinbase decided to add ETC. pic.twitter.com/iCBDpKxptU
— Crypto฿ull (@Crypto_God) June 12, 2018
Doesn‘t matter if you like $ETC or not, Coinbase adding more coins is bullish for Crypto. Coinbase is one of the biggest fiat to Crypto Ramps in the whole world of Crypto right now, and this is bullish for Crypto overall. Stop beeing a hater ✌️
— Cryptopatush [Vice President of Altcoins] (@Topkek1337xd) June 12, 2018
How long do you think it’ll be before Coinbase has an index fund for investors outside of the US? Leave your comments below!
Featured Image: Twitter