Coinbase Eyes Bitcoin ETF With New Cryptocurrency Index Fund
Coinbase launched its Coinbase Index Fund on Tuesday, which is an asset management service that allows its U.S users, who have an annual income of at least $200,000 or a net worth of at least $1 million, to buy cryptos through a new fund, rather than trading them directly on Coinbase and GDAX. The Coinbase Index Fund will charge 2% for assets under management, which is cheaper than its competitors including Bitwise (2.5%), Grayscale (3%). In addition, Coinbase also plans to launch a similar fund available to retail investors, likely structured as an exchange-traded fund (or ETF), pending regulatory approval.