Popular US cryptocurrency exchange Coinbase announced today the launch of its first ever index fund. Global Digital Asset Exchange (GDAX), which is owned by the San Francisco-based retail exchange, will provide to its accredited investors the option of buying the lot, all assets, weighted, into one financial product.
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Coinbase Launches Index Fund
Bitcoin? Bitcoin cash? Ethereum? Litecoin? Why not all four! “We’re seeing strong demand from our customers and the market generally for a passive investment management product…but we’re finally seeing demand so that’s why we’re just launching now,” Coinbase’s Reuben Bramanathan explained to Reuters.
“We’re excited to announce Coinbase Index Fund,” the company announced. The fund “will give investors exposure to all digital assets listed on Coinbase’s exchange, GDAX, weighted by market capitalization. If a new asset is listed on the exchange, it will be automatically added to the fund.”
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