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Coinbase (coin base) will abolish “Coinbase Index Fund”

Coinbase (coin base) will abolish "Coinbase Index Fund"
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Coinbase (Coinbase) , a major US exchange, found it a policy to abolish the index fund “Coinbase Index Fund” launched in March this year.

According to officials, it is said that the low demand from financial institutions and qualified investors is the reason for abolition, and the fund with the minimum investment of 250 thousand dollars seems to have been incompatible with the expectation for ETF .

After abolishing the Index Fund, the company is striving to expand the service of ” Coinbase Bundle ” which can invest in the bundle of cryptocurrency weighted by market capitalization.

The minimum investment amount is set at $ 25, the service is based on five market currencies of Bitcoin (BTC), Ethicalam (ETH), Bitcoin Cash (BCH), Light Coin (LTC), and Earlyam Classic (ETC) It is a weighted average derived product.

As a similar service, “Buy The Market” offered by Circle of America is attracting a lot of attention, and this minimum investment is set at 1 dollar.

Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/coinbase-to-shut-down-coinbase-index-fund/

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