Coinbase Huge News

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Coinbase is the first exchange EVERYONE uses. It's like the gateway into crypto investing. In a recent news report, Coinbase has announced that at least ten hedge funds and family offices have begunto use the service they started to provide last week called custody service which aims to make digital currency investing safer and similar to securities investing.

The company aims to have 100 large institutional customers by the end of the year with as much as $5 billion in assets under management, Sam McIngvale, who is leading the effort for San Francisco-based Coinbase, said in a phone interview. Coinbase said it already stores more than $20 billion in crypto assets for clients such as retail investors.

Coinbase recently announced an index fund as well for investors who want exposure to the crypto markets but not all the volatility. This is allowing more and more investors to want to invest in crypto. These new services could be the stepping stone for an influx of HUGE capital.

SEC has been very involved to this point with Coinbase as they aim to be as compliant as possible. This is truly a stepping stone in the right direction for crypto.

Currently, only Bitcoin, Ethereum, Litecoin and Bitcoin Cash are included but more coins are definitely going to be added soon. Ethereum Classic was just added.