Coinbase Index Fund Goes Live; Next Step to Democratize Crypto Index Investing

Coinbase, the leading US cryptocurrency trading platform, has officially opened their Coinbase Index Fund. The announcement came on Tuesday afternoon (PT) via Reuben Bramanathan (Product Lead, Coinbase Asset Management), who wrote on behalf of The Coinbase Blog.

As stated when they launched the Coinbase Asset Management platform in early March, “at this stage,” only US-resident accredited investors will be able to enter into the Coinbase Index Fund.

Also, Coinbase has decided to cap the amount able to be invested into the fund at $US20 million, with the minimum entry point being $250,000.

Reinforcing what was said in the above-mentioned March announcement, Bramanathan disclosed that Coinbase is “working on launching more funds which are accessible to all investors and cover a broader range of digital assets.”

Promisingly, Tuesday saw Bramanathan publish this tweet stating that “building a team” to enable this goal of crypto index investing democratization is indeed the “next step.”

Commenting further on what the Coinbase Index Fund will mean for the industry was Brian Armstrong (Co-Founder & CEO, Coinbase), who suggested that:

Investing in Coinbase Index Fund is the easiest way to get exposure to a broad range of crypto assets.”

Armstrong went on to highlight how the fund is much more financially feasible, too; undercutting the exorbitant 2–20 percent fees “charged by most crypto hedge funds.”

The rebalancing of the fund’s composition is a non-factor, the Coinbase CEO added, as “new assets [are] automatically added to the fund as they become available on Coinbase.”

 

As revealed yesterday, one such new entrant to the fund will be Ethereum Classic (ETC) – but this is still a matter of months away. Whilst it remains unknown whether ETC will become listed on Coinbase’s self-named trading platform (which is dependent upon factors such as liquidity, price stability etc.), it will form part of the Coinbase Index Fund.

Importantly, whenever any cryptoasset is listed on Coinbase Markets, the Coinbase Index Fund will automatically rebalance so as to accommodate the newly-listed cryptoasset.

Speaking of new listings…

The crypto community went wild with conjecture in late March when Coinbase declared its intention to support ERC20 tokens across its suite of product offerings. About three weeks ago, they acquired Paradex – a decentralized relayer that grants users the ability to trade ERC20 tokens directly (i.e., wallet to wallet).

Image From Shutterstock

Read More Coinbase Index Fund Goes Live; “Next Step” to Democratize Crypto Index Investing : https://ift.tt/2y8mb1b

Partner By desimpul.blogspot.com The materials on Desimpul’s website are provided on an ‘as is’ basis. Desimpul makes no warranties, expressed or implied, and hereby disclaims and negates all other warranties including, without limitation, implied warranties or conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights. Further, Desimpul does not warrant or make any representations concerning the accuracy, likely results, or reliability of the use of the materials on its website or otherwise relating to such materials or on any sites linked to this site. In no event shall Desimpul or its suppliers be liable for any damages (including, without limitation, damages for loss of data or profit, or due to business interruption) arising out of the use or inability to use the materials on Desimpul’s website, even if Desimpul or a Desimpul authorized representative has been notified orally or in writing of the possibility of such damage. Because some jurisdictions do not allow limitations on implied warranties, or limitations of liability for consequential or incidental damages, these limitations may not apply to you. Accuracy of materials The materials appearing on Desimpul’s website could include technical, typographical, or photographic errors. Desimpul does not warrant that any of the materials on its website are accurate, complete or current. Desimpul may make changes to the materials contained on its website at any time without notice. However Desimpul does not make any commitment to update the materials. Links Desimpul has not reviewed all of the sites linked to its website and is not responsible for the contents of any such linked site. The inclusion of any link does not imply endorsement by Desimpul of the site. Use of any such linked website is at the user’s own risk. Modifications Desimpul may revise these terms of service for its website at any time without notice. By using this website you are agreeing to be bound by the then current version of these terms of service.

Credited source: http://cryptocoin12.weebly.com/crypto/coinbase-index-fund-goes-live-next-step-to-democratize-crypto-index-investing

NewsGrabber