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Coinbase has officially introduced its new cryptocurrency index fund, a product especially catered to significant traders, enabling access to all five cryptocurrencies detailed on the system.
Launched on Wednesday, Coinbase mentioned it experienced acquired ‘overwhelming interest’ from traders ever due to the fact its initial announcement confirming the new crypto index fund previously in March. The development comes amid a revamp and rebrand of its prior investing system GDAX which has given that spun into ‘Coinbase Pro’.
All cryptocurrencies currently outlined on Coinbase, particularly bitcoin, ethereum, bitcoin dollars, litecoin and most lately ethereum classic, will be obtainable for traders and will be weighted by market capitalization, according to merchandise direct Reuben Bramanathan.
As noted beforehand, the company will in the beginning be available to accredited traders with a bare minimum investment decision of $250,000 and a ceiling of $20 million.
The current composition [PDF] of Index Fund will be rebalanced to incorporate ethereum classic (And many others) following the exchange operator confirmed approaching support for Etcetera before this week.
Whilst the fund is now dwell, it is not accessible to all end users in the 30+ nations around the world wherever Coinbase has a existence in.
At this stage, Coinbase Index Fund is only open to US-resident accredited traders.
With out revealing any specific specifics of the company’s roadmap, the executive confirmed Coinbase is “working on launching extra resources which are available to all investors” over and above significant and accredited customers as very well as working toward listing “a broader range of digital assets” in the long term.
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