Coinbase launches Index Fund for high-stake investors
US-based crypto wallet and exchange Coinbase has gone live with its Coinbase Index Fund, according to a report in Cointelegraph.
Plans for the fund (specifically for large scale investors), was first revealed in March and is available only to US investors – specifically those with a net worth of over $1m or an annual salary of more than $200,000. Investment limits start at $250,000, rising to a $20m maximum.
The index includes Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum Classic. Coinbase’s blog post announcing the launch, insists the fund will be rebalanced to include any future crypto assets listed on Coinbase.
The fund fits in with the company’s recent strategy of targeting more higher-stakes players and institutional investors. Last month, Coinbase unveiled a suite of products aimed at institutional investors, focusing heavily on security and regulatory compliance – areas the company believe have discouraged investors from entering the crypto world previously.
Earlier this Spring, Coinbase announced it would support ERC20 tokens on its exchange, though made a point of not revealing the names of any particular altcoins.