Coinbase Announced an Update of the Index Fund
The Coinbase exchange announced in its blog updates for its index fund. The American company notes that such a decision will reduce the annual fee for the index fund for all new and existing investors from 2 to 1 percent.
In a message posted on the blog states following:
“We’re reducing our fee in order to attract investors who are familiar with lower-fee index funds in other asset classes. This will help introduce a new category of institutional investors into the cryptocurrency space.”
The published announcement also includes news that the index fund was rebalanced to include Ethereum Classic (ETC).
About plans to include Ethereum Classic on its platform, the company announced in mid-June. A month later, representatives of Coinbase said that the trading platform is also considering the possibility of adding five additional cryptocurrency assets. This includes such digital currencies as Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX).
For the first time, Coinbase launched its index fund in mid-June with four major cryptocurrencies. The fund opened for those investors who are accredited US residents. They must have their own capital more than 1 million US dollars and annual salary, the size of which exceeds the mark of 200 thousand dollars. They also have to invest from 250 thousand to 20 million US dollars.