Coinbase Index Fund is Officially Open for Investment!

The Coinbase Index Fund is now officially open for investment!

Starting today, the Index Fund is open to investment starting from a minimum of $250,000 USD and ranging to a maximum of $20 million. It is only open for accredited investors who are residents in the US.

First announced back in March 2018, the Coinbase Index Fund is meant to “give investors exposure to all digital assets listed on Coinbase’s exchange, GDAX, weighted by market capitalization,” where they have highlighted that they are “excited to give [Coinbase] customers the ability to invest in the potential of blockchain-based digital assets as a whole.”

The cryptocurrency exchange also hopes that it will be able to open up more funds to investors in other parts of the world, as it is currently only open to US investors.

Coinbase tweeted that index funds “[provide] diversified exposure to a broad range of assets in one tool.”

Index funds have changed the way that many people think about investing, providing diversified exposure to a broad range of assets in one tool. We’re looking forward to giving clients the ability to invest in the potential of blockchain-based digital assets.
— Coinbase (@Coinbase) June 12, 2018

Recently Coinbase announced that it would be adding support for Ethereum (available on Coinbase) Classic (ETC) and hopes to add more assets to the fund in the future. Bitcoin (available on Coinbase) (BTC), Ethereum (available on Coinbase) (ETH), Litecoin (available on Coinbase) (LTC) and Bitcoin (available on Coinbase) Cash (BTH) are currently part of the index system.

Social Media Response

Responses on social media regarding Coinbase’s Index Fund have highlighted the surprise about the addition of ETC to Coinbase.

Reactions have been a mixed bag of surprise and outrage with some positive outlooks:

$ETC? Really?
— Salmon Addict (@Ethereum (available on Coinbase)Addict) June 12, 2018

This is the dead sea, the saltiest place on earth, second only to the XRP community after Coinbase decided to add ETC. pic.twitter.com/iCBDpKxptU
— Crypto฿ull (@Crypto_God) June 12, 2018

Doesn‘t matter if you like $ETC or not, Coinbase adding more coins is bullish for Crypto. Coinbase is one of the biggest fiat to Crypto Ramps in the whole world of Crypto right now, and this is bullish for Crypto overall. Stop beeing a hater ✌️
— Cryptopatush [Vice President of ALTCoins] (@Topkek1337xd) June 12, 2018