Coinbase Poised to Launch its Own Crytpocurrency Index Fund

Coinbase Poised to Launch its Own Crytpocurrency Index Fund

Coinbase bitcoin exchange launches cryptocurrency index fund

It's meant to act as a tool for the individual investor. Investors will be required to make a minimum $10,000 investment to participate in the fund.

For now, the fund itself will consist of those cryptocurrencies listed on Coinbase and GDAX, namely Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

The company executives explained the limited services by stating that the plan will be open to masses if the regulatory hurdles pass. Coinbase is not the first company to offer an index fund, Gray Scale, a digital assets tracking company has already introduced it for Bitcoins.

For this fund investors will also have to be accredited and U.S-based, although Coinbase hopes to remove those restrictions for future funds.

For the time being, the fund will be available to the USA resident accredited investors only.

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"We are noticing people coming to the space for the first time, being excited about cryptocurrencies, but not knowing where to start, so we're excited to give people the ability to get broad exposure to the entire asset class rather than having to select individual investments."
Investments can be made in USD, BTC, ETH, BCH, or LTC. The customers can invest on a monthly basis and withdraw every quarterly. While digital currency operators are equipped at spotting the more obvious frauds, its getting increasingly hard to keep a track of cryptocurrencies which are used for drugs and other illicit goods.

In addition to the new index fund, Coinbase has also announced the launch of the Coinbase Index, which tracks the performance of all of the digital assets listed on GDAX.

The customer who sued alleges that employees were tipped off a month in advance, allowing them to instantly swamp Coinbase with buy and sell orders and leaving other traders at a great disadvantage, Bloomberg reported.

Coinbase announced Tuesday that it will launch an index fund product.

The ongoing legal battle between Coinbase and the U.S. government dates back to November, 2016, when the IRS filed a "John Doe summons" in the United States District Court for the Northern District of California.

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