The index fund was first discussed back in March this year, with the intention of providing their user base of over 4.3 million investors, with an
“easy way to get exposure to the crypto-assets that we offer on our exchange,”
– Coinbase COO, Asiff Hirji.
Coinbase has remained consistent with their previous comments, reaffirming that the index fund will be only available to considerably wealthy investors at this early stage. Reuben Bramanathan, the project lead on this new release, outlined this in the official medium post announcement yesterday,
“We’ve seen overwhelming interest from investors since we announced the fund earlier this year. At this stage, we have opened the fund to those who wish to invest $250,000 to $20 [million].”
He also added that the index fund will also include the latest addition to the Coinbase list, , along with the existing cryptocurrencies BTC, BCH, LTC and ETH.
To the many investors in the crypto community who cannot afford the $250,000 minimum investment, Bramanathan assures that Coinbase is,
“working on launching more funds which are accessible to all investors and cover a broader range of digital assets.”
Omitting to specify when we can expect this to happen.
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