Coinbase Launches First Cryptocurrency Index Fund

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    The US cryptocurrency exchange Coinbase has come up with a first-of-its-kind index fund today. Launching the product, the company said, 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."

    Coinbase Launches First Cryptocurrency Index Fund

    GDAX or Global Digital Asset Exchange (GDAX), which is owned by the San Francisco-based retail exchange, will allow its accredited investors to take position in all of the listed assets i.e an option to by the lot, weighted in a single financial product.

    At present four of the digital assets including Bitcoin, Bitcoin cash, Litecoin and Etherem are listed on the exchange.

    How the launch of Index fund in the crypto space will influence its market?

    Through the crypto index fund, investors will be able to make out a better picture or trend in the digital asset space. Also, a weighted exposure in all of the listed assets can be taken by investor which are listed on the platform. However, currently, the facility shall be open only to investor based out of the US.

    In December last year touched a peak of $20,000 on some of the global exchanges only to fall by over half in value in the beginning of this year. However, the bitcoin is fast regaining even as global crackdown of the digital token is ongoing on fears of its increasing use in terror financing, money laundering and other illicit practices.

    Story first published: Thursday, March 8, 2018, 10:58 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more