Coinbase, the operator of the largest U.S. cryptocurrency exchange, confirmed that its Coinbase Index Fund is officially open for business. The exchange operator announced launch of the fund earlier this year.
While the Coinbase Index Fund is open to investors, there are hefty minimum investments associated with the new fund. The fund is only open to investors with the ability to invest at least $250,000 or up to $20 million.
“At this stage, Coinbase Index Fund is only open to US-resident accredited investors. We’re working on launching more funds which are accessible to all investors and cover a broader range of digital assets,” according to the Coinbase Blog.
Inside The New Crypto Fund
The new fund will be allocated to the digital assets traded on the Coinbase exchange and will weight those cryptocurrencies by market value. Bitcoin is the largest digital currency by market capitalization.
“As we announced yesterday, the fund will be rebalanced to include Ethereum Classic, and more assets when they are listed by Coinbase in the future,” according to Coinbase.