cryptocurrency exchangeCoinbasepass this tuesdayblogandTwitterAnnounced that its index fund (CoinbaseI Index Fund) is now open to investors, with an investment limit of $250,000 to $20 million. The index fund adopts a market capitalization weighting system and covers all cryptocurrencies currently listed by Coinbase/GDAX.
Coinbase Official Twitter: Open Index Funds to Investors
Coinbase’s index fund product, inFirst announced in March, adjustments have been made in the allocation of digital currency funds. Initially, the digital currency configuration settings only included four mainstream digital currencies: 62% for Bitcoin, 27% for Ethereum, 7% for Bitcoin Cash, and 4% for Litecoin, and did not include all currencies.
Coinbase announced yesterday that Ethereum Classic (ETC) will be the next currency to join its trading platform, and disclosed related cryptocurrency investment products.
In this regard, Coinbase made it clear in the latest announcement that it will make corresponding adjustments to include ETC and other currencies that will be listed on Coinbase into the index fund. This has changed Coinbases previous plan of adjusting the allocation of digital currency funds on January 1st each year based on the fluctuation of the market value throughout the year.
As a simplified diversification tool,The Coinbase Index Fund is currently only available to accredited investors who are US residents. To become an accredited investor, you must have a net worth of more than $1 million,Or earn more than $200,000 a year.
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Coinbaseat presentorFidelityorpioneerProducts that mimic the composition and performance of the SP 500 Index or the overall stock market.
Not only Coinbase, Huobi, OKEx and other exchanges have also released related index fund products.Huobi Pro launched last monthHuobi Main Index, which comprehensively reflects the overall performance of the Huobi Pro market, and provides tools for the subsequent launch of index funds, stock index futures, and option transactions.OKExRecently, the digital currency comprehensive index OK05 and OK06 have been launched, and relying on these two project indexes, the index product OK06ETT with zero handling fee subscription has been launched.
In March of this year, Upbit, South Koreas largest cryptocurrency exchange, launched South Koreas first cryptocurrency index, the Upbit Cryptocurrency Index, and said it would invest 100 billion won (approximately $93 million) in the blockchain industry in the next three years.
I am Zhang Yi, a reporter from Odaily. I am exploring the real blockchain. For breaking news and communicating, please add WeChat ro20110723. Please note your name, unit, position and reason.
I am Zhang Yi, a reporter from Odaily. I am exploring the real blockchain. For breaking news and communicating, please add WeChat ro20110723. Please note your name, unit, position and reason.
