Coinbase Starts Index Fund For US Investors – $10,000 Minimum Needed To Get InMarch 7, 2018
The index fund will be available only to US accredited investors, those who have annual income of at least $200,000, or a net worth of at least $1 million. Coinbase is hoping to launch a similar fund available to all investors regardless of wealth, likely structured as an exchange-traded fund, if regulators approve.
No timeline has been set for the lower-end offering or when the index will start trading. The Coinbase Index Fund will require a minimum investment of $10,000 and weights its cryptocurrency holdings proportionately by their market caps.
“Index funds have changed the way that many people think about investing,” said Reuben Bramanathan, a product manager at Coinbase, in a blog post. “By providing diversified exposure to a broad range of assets, index funds enable investors to track the performance of an entire asset class, rather than having to select individual assets.”
Source: Read Full Article