Coinbase Tuesday unveiled plans to launch the Coinbase Index Fund, a move aimed at capturing retail investors.
The fund will offer exposure to all of the digital assets currently listed on Coinbase’s GDAX exchange and will be weighted by each cryptocurrency’s market capitalization, the company said in a blog post. “If a new asset is listed on the exchange, it will be automatically added to the fund,” the post said.
Investors will need a minimum of $10,000 to participate in the fund. The company didn’t offer an expected launch timeline.
“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,” Reuben Bramanathan, Coinbase product manager, said in the post. “We’re excited to give our customers the ability to invest in the potential of blockchain-based digital assets as a whole.” Read more here