Coinbase has formally launched a brand new index fund product geared toward giant buyers.
Introduced Wednesday in a weblog publish by product lead Rueben Bramanathan, the Coinbase Index Fund is now “open for investments” with a minimal required funding of $250,000.
The fund will give buyers entry to all the belongings at the moment listed on Coinbase, which at current embody bitcoin, bitcoin money, ethereum, litecoin and now ethereum traditional. The belongings might be weighted by their market capitalization, in accordance with the publish.
Additional, extra belongings may be added if Coinbase lists them at a future date.
“We have seen overwhelming curiosity from buyers since we introduced the fund earlier this 12 months. At this stage, we’ve got opened the fund to those that want to make investments $250,000 to $20 [million].”
The fund was first introduced in March. On the time Coinbase famous that it could provide publicity to any belongings listed on GDAX, which is now being deprecated in favor of the agency’s new Coinbase Professional service.
Nonetheless, the fund isn’t but open to everybody – Bramanathan famous that, “At this stage, Coinbase Index Fund is barely open to US-resident accredited buyers.”
Whereas he mentioned that Coinbase is “engaged on launching extra funds that are accessible to all buyers and canopy a broader vary of digital belongings,” no timeline has but been offered.
Coinbase app picture by way of Pe3k / Shutterstock