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Coinbase has rolled out the passive fund to track the tokens that trade on its GDAX exchange to provide customers with a more seamless way to get broad-based weighted average crypto exposure. Customers can invest once per month and withdraw once per quarter.
Four days later, Fundstrat Global Advisors – the research boutique that counts Bitcoin bull Thomas Lee as its co-founder – announced plans to create crypto indexes to track the performance of some 600 digital tokens. In Coinbase’s case, only accredited US investors will be eligible to buy into the fund initially because catering to less experienced individuals poses more regulatory challenges, Bramanathan said. Investors must have a net worth of $1 million or make $200,000 per year. They will also be required to invest a minimum of $10,000, either in US dollars or one of the cryptocurrencies on the exchange. Coinbase created a new business unit, Coinbase Asset Management, to run the investment vehicle, which it hopes to launch in the coming months.
