The Coinbase Index Fund is now officially open for investment!
Coinbase Index Fund
Starting today, the Index Fund[1] 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.”[2]
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[3]
Recently Coinbase announced that it would be adding support[4] 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
