The crypto exchange Coinbase is in the latest cryptocurrency news, after shutting down its institutional-investor focused index fund product. The announcement was officially confirmed by the exchange from a spokesperson.
As the spokesperson said, the Coinbase Index Fund – which launched earlier this year – will be closed by the end of this month, and the customers will be instead directed to the recently-announced Coinbase Bundle product instead. The news was first reported by The Block.
The spokesperson also said:
“After assessing demand from retail, accredited and institutional investors, Coinbase has decided to shut down Coinbase Index Fund. We will focus on providing diversified exposure to all investors through Coinbase Bundle.”
Unlike the index fund, this bundle is now open to all Coinbase customers and there is no accreditation required. The minimum required investment is only $25 compared to the $250,000 for the fund.
Alongside the shutdown, Coinbase also announced its intention to add further assets to the fund – should they be listed on any of its trading platforms as well. This comes a day after Coinbase announced that it is adding the 0x Protocol token (ZRX) to its professional trading platform, Coinbase Pro.
Bitcoin Nearing $4,000: The Chances Of A Larger Breakout Are Increasing
Bitmain Has Reportedly Lost $500 Million In Q3: IPO Document
Bitcoin Goes Over $3,750 As Total Market Cap Rises To $126 Billion
Japanese e-Commerce Giant Rakuten With A New App That Will Probably Support Crypto Payments
Join us on Facebook
- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
- US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
- Central Bank Of Japan Examines Digital Currencies According To New Report
- Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
- Craig Wright Calls Out Ethereum For Being Unable To Scale
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News5 days ago
Bloomberg Editor: JPMorgan’s Cryptocurrency Will ‘Obliterate’ Ripple
Bitcoin News3 days ago
Bitcoin Is Closer To A First Positive Month Since July 2018
Regulation4 days ago
New Blockchain Framework Bill Passed Into Law In Luxembourg
Altcoin News4 days ago
Norwegian Anarcho-Capitalist City Adopts Crypto As Official Medium Of Exchange
Altcoin News3 days ago
ETH-Based Maker (MKR) Outperforms In February With 37% Gains
Bitcoin News5 days ago
Is It About Time Millennials Invest All-In On Bitcoin: Investor Talk
Regulation3 days ago
SEC’s ‘ICO Guide’ With A Gloomy Outlook For Cryptocurrency In 2019
Altcoin News3 days ago
Top Cryptocurrencies See Green, Ending Week With A Positive Action