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Coinbase has formally launched its new cryptocurrency index fund, a product particularly catered to giant buyers, enabling entry to all 5 cryptocurrencies listed on the platform.
Launched on Wednesday, Coinbase stated it had acquired ‘overwhelming curiosity’ from buyers ever since its unique announcement confirming the brand new crypto index fund earlier in March. The event comes amid a revamp and rebrand of its earlier buying and selling platform GDAX which has since spun into ‘Coinbase Professional’.
All cryptocurrencies presently listed on Coinbase, specifically bitcoin, ethereum, bitcoin money, litecoin and most not too long ago ethereum basic, shall be accessible for buyers and shall be weighted by market capitalization, in accordance with product lead Reuben Bramanathan.
As reported beforehand, the service will initially be accessible to accredited buyers with a minimal funding of $250,000 and a ceiling of $20 million.
The present composition [PDF] of Index Fund shall be rebalanced to incorporate ethereum basic (ETC) after the change operator confirmed upcoming assist for ETC earlier this week.
Though the fund is now reside, it isn’t accessible to all customers within the 30+ nations the place Coinbase has a presence in.
At this stage, Coinbase Index Fund is barely open to US-resident accredited buyers.
With out revealing any particular particulars of the corporate’s roadmap, the manager confirmed Coinbase is “engaged on launching extra funds that are accessible to all buyers” past giant and accredited shoppers in addition to working towards itemizing “a broader vary of digital belongings” sooner or later.
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