Coinbase Index Fund Open For Business: Official Launch Welcomes U.S. Investors

Coinbase officially announced the opening of the Coinbase Index Fund to accredited US investors, allowing US citizens that meet the appropriate SEC requirements to invest in a passively managed index fund currently consisting of the four cryptocurrencies traded on Coinbase Pro - Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

Announcing: Coinbase Index Fund is open for investment.

In an announcement on Tuesday, Coinbase Asset Management Product Lead Reuben Bramanathan stated that the Coinbase Index Fund is now open for investments of $250,000 to $20 million.

"We've seen overwhelming interest from investors since we announced the fund earlier this year. At this stage, we have opened the fund to those who wish to invest $250,000 to $20M.".

Coinbase's passively managed index fund offers investors the opportunity to access a simple method of investing in what Coinbase considers their preference in the current market for a 2% annual management fee.

Have earned income exceeding $200,000 over the last two years, and reasonably expect the same for the current year.

The index fund currently consists of the following four crypto assets, weighted by market capitalization as of May 1st, 2018:.Bitcoin: 58.47%.Ethereum: 27.39%.Litecoin: 3.41%.Bitcoin Cash: 10.73%. The terms, as outlined by official documentation, set the minimum investment at $250,000, with a monthly subscription base and quarterly redemptions with 30 days notice.

The fund is administered by MG Stover & Co., a venture capital and hedge fund administration and accounting firm based in Denver and audited by BDO USA, LLP.Wider Range of Funds Coming Soon.

"Coinbase Index Fund gives investors exposure to all assets on our exchange, which will soon include Ethereum Classic. We're working on launching more funds which will cover a broader range of digital assets."

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