Yahoo Finance Coinbase's New Index Fund for Investors Is Now Live
Coinbase has formally launched a new index fund product aimed at large investors.
Announced Wednesday in a blog post by product lead Rueben Bramanathan, the Coinbase Index Fund is now "open for investments" with a minimum required investment of $250,000.
The fund will give investors access to all of the assets currently listed on Coinbase, which at present include bitcoin, bitcoin cash, ethereum, litecoin and now ethereum classic. The assets will be weighted by their market capitalization, according to the post.
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Further, more assets can be added if Coinbase lists them at a future date.
Bramanathan wrote:
"We've seen overwhelming interest from investors since we announced the fund earlier this year. At this stage, we have opened the fund to those who wish to invest $250,000 to $20 [million]."
The fund was first announced in March. At the time Coinbase noted that it would offer exposure to any assets listed on GDAX, which is now being deprecated in favor of the firm's new Coinbase Pro service.
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However, the fund is not yet open to everyone - Bramanathan noted that, "At this stage, Coinbase Index Fund is only open to US-resident accredited investors."
While he said that Coinbase is "working on launching more funds which are accessible to all investors and cover a broader range of digital assets," no timeline has yet been provided.
Coinbase app image via Pe3k / Shutterstock
