bringing you the latest innovations and latest news on blockchain and cryptocurrency topics. Thanks to all those people who have supported us from the beginning and the new ones, we hope they enjoy our content enough. today I bring you a good news but at the same time a little selfish for the opinion of us because it is centralized only in a group of people, however we hope that this innovation can expand over time.
The Coinbase Index Fund will be comprised of all the cryptocurrencies listed among the platform's exchange services, including the upcoming incorporation of Ethereum Classic.
All the cryptocoins of the Index fund will be weighted in terms of market capitalization, in order to guarantee that investors receive a return that reflects the main cryptographic assets.
At the time of writing this report, the fund is composed of Bitcoin, Ethereum, Bitcoin Cash and Litecoin, which are weighted as follows:
Bitcoin: 61.5%
Ethereum: 27.2%
Bitcoin Cash: 8.2%
Litecoin: 3.1%
Coinbase announced that the fund will be updated with more digital assets once the platform lists them in the future.
This indexed fund provides another layer of financial security for investors, since Coinbase is insured against the loss of assets, which reduces the risk for potential investors. In addition, the exchange has proven to be a reliable site for storing cryptocurrencies, since no cyber attacks have been reported in the six years of operation.
Only accredited US investors
The Coinbase publication reaffirmed that, for the time being, the fund will only be available to accredited US investors. These investors must have a net worth of more than one million dollars, in addition to having an income of more than USD $ 200,000 per year.
Despite the limited investment opportunity, the Coinbase AM team is working on ways to open similar investment opportunities to a wider audience:
We are working on the launch of more funds that are accessible to all investors and cover a wider range of digital assets. "
The last 24 hours have come with two major announcements of this exchange giant.
As it was mentioned before, we hope that in a short time this initiative that the people of CoinBase have had can spread all over the world and all the people have the happiness of being able to participate in it. Despite being in various diatribes of its operation and transparency, CoinBase has undoubtedly been of great help and has done its bit to expand the entire ecosystem of cripto, so thanks to this platform for such good results to despite the negative.
We hope you enjoyed this publication, as I always try to bring you good publications in the field of cryptocurrencies and Steemit. I hope to have your support.
