In March, cryptocurrency exchange Coinbase announced it would be launching an index fund for cryptocurrencies, allowing investors to effortlessly buy a basket of coins traded on Coinbase's exchange GDAX, recently rebranded to Coinbase Pro.
Now, the fund is officially open for U.S. accredited investors who wish to invest from $250,000 to $20 million.
SEE ALSO:Coinbase is adding Ethereum Classic to its exchangeIn a blog post published Tuesday, Coinbase's Asset Management Product Lead Reuben Bramanathan wrote that the company has seen "overwhelming interest from investors" since the original announcement.
The Coinbase Index Fund charges a 2% annual management fee, and invests in all four coins currently listed on Coinbase Pro, weighted by market cap -- Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Per Coinbase's announcement yesterday, a fifth cryptocurrency -- Ethereum Classic -- will be added to this list in the following months.
If the requirements sound prohibitive, there's still hope. Coinbase is "working on launching more funds which are accessible to all investors and cover a broader range of digital assets," the post said. There are other options open to individuals. You can, for example, easily track the fund's performance by investing in the same cryptocurrencies directly through Coinbase. Or you can buy a token like Crypto20, which is a tokenized index fund that tracks the performance of 20 large cryptocurrencies.
Coinbase has been rapidly expanding its portfolio of services and products to accommodate institutional investors this year. In May, the company announced four new major products that cater to the needs of pro investors, including a central liquidity pool, secure cryptocurrency storage, a professional-grade trading platform as well as research and support services.
Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH. The author of this text does not own, or has not recently owned, C20.
TopicsCryptocurrency
(责任编辑：知識)
Balloon fanatic Tim Kaine is also, of course, very good at harmonicaHow TV made mid
How to add music to an Instagram Story'Ted Lasso' star Jason Sudeikis shows support for England footballers after racist abuseXiaomi accused of copying again, this time by JawboneSound the alarms: Simone Biles finally met Zac Efron
Is there anything Simone Biles can't do?The unstoppable gymnast just won her fifth medal of the Rio
...[详细]16 best tweets of the week, including horse jeans, 'Dune,' and Porpo Dorpo
Do you like good tweets? Of course you do! How could you not? They're funny, they're brief, they're
...[详细]Facebook shut down political ad research, daring the U.S. to regulate
On Tuesday, Facebook stopped a team of researchers from New York University from studying political
...[详细]Amazon opens waiting list for home surveillance drone
Seemingly against all notions of common sense, Amazon announced Tuesday that it's moving forward wit
...[详细]Ivanka Trump's unpaid interns share cringeworthy financial advice
Ivanka Trump's interns have some questionable advice for students worried they can't afford an unpai
...[详细]Mars is alive. (Geologically.)NASA recently reported that its InSight lander — sent to observe
...[详细]TILI: An ode to the gnomes of 'On My Block'
Welcome toThanks, I Love It, our series highlighting something onscreen we're obsessed with this wee
...[详细]Clubhouse is finally open to everyone
Clubhouse is no longer exclusive.The app has ditched its invite-only policy to grant everyone access
...[详细]5 people Tim Cook calls for advice on running the biggest company in the world
It's only fitting that the leader of the biggest company in the world has a pretty impressive list o
...[详细]YouTube is more likely to serve problematic videos than useful ones
Here's a study supported by the objective reality that many of us experience already on YouTube.The
...[详细]Samsung Galaxy Note7 teardown reveals the magic behind the phone's iris scanner
Roy Kent's constant swearing in 'Ted Lasso' is an effing delight
