Coinbase is now allowing accredited investors with deeper pockets the ability to utilize the Coinbase Index Fund, which offers exposure to every asset listed on the popular exchange.
The previously announced Coinbase Index Fund has officially opened for investments of $250,000 to $20M.
Reuben Bramanathan, Product Lead of Coinbase Asset Management, stated in an official announcement:We’ve seen overwhelming interest from investors since we announced the fund earlier this year. At this stage, we have opened the fund to those who wish to invest $250,000 to $20M.
The fund is geared towards institutional investors and those with a lot of money to invest and offers investors exposure to each and every asset listed on Coinbase’s exchange. The cryptocurrencies are weighted by market capitalization, which aims to ensure effective diversification in the event one particular cryptocurrency underperforms.
The Coinbase Index Fund will also include Ethereum Classic, after the announcement earlier this week that the popular San Francisco-based cryptocurrency company would begin supporting the cryptocurrency in the coming months.
Currently, only accredited investors residing in the United States are eligible to utilize the Coinbase Index Fund. However, Coinbase plans to broaden its horizons with other offerings for currently ineligible investors, stating:We’re working on launching more funds which are accessible to all investors and cover a broader range of digital assets.
BAD TIMING (OR NOT)
The launch of the Coinbase Index Fund comes at a time when many retail investors are being shaken out of the volatile bear market.
Each and every asset currently listed on Coinbase is undergoing a rather steep ‘correction.’ Bitcoin (BTC) is currently down, at the time of this writing, 14 percent over the last week. Ethereum (ETH), meanwhile, is down 21 percent, while Bitcoin Cash (BCH) and Litecoin (LTC) are down 25 percent and 20 percent respectively.
There was a time when such an announcement from Coinbase would’ve sent prices skyrocketing — but those days appear to be well and truly over.
That said, institutional investors and those eligible to take advantage of the Coinbase Index Fund might soon find the prices just to their liking.
Coinbase cancels crypto bundles nine months after launch
An update into Coinbase´s FAQ page evidenced the deprecation of the bundles, with assets “redistributed to their respective individual asset wallets”.
The crypto packaged offered by Coinbase since late September of 2018 allowed users to buy Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ethereum Classic at once, with the mixture of cryptos determined by their USD market capitalization at purchase time. The smallest bundle purchase was set at either $25, £25 or €25, with a commission rate for the exchange of 1,5% plus the regular buying fees.
The closure follows a similar event, namely the termination of the Coinbase index fund. Aimed at institutional investors, the Coinbase bundle was originally marketed as its replacement. The main difference between both products was that the bundle allowed to keep all cryptos as separate assets, enabling individual buying and selling, meanwhile the fund could only be traded in whole.
According to Hard Fork´s reports, the shutdown of the index fund was explained by Coinbase as a strategy to focus on their bundle product; however, it seems as if the exchange has not find its way towards simplifying multi-token purchases.
Coinbase Reveals Surprising List of Most Popular Cryptocurrencies – Plus Ethereum, Ripple and XRP, Stellar
From the most popular crypto assets on the leading US exchange Coinbase to the expansion of a Stellar-based exchange, here’s a look at some of the stories breaking in the world of crypto.
Coinbase has officially launched its new set of trading signals, including insight on which coins are the most popular and which crypto assets are held the longest.
Economist and analyst Alex Krüger compiled a list of the data revealing that the biggest crypto assets by market cap aren’t necessarily the most popular coins on the platform, as you might expect.
Bitcoin is the most popular crypto, followed by Ethereum. Next up is Litecoin, followed by Bitcoin Cash, XRP, Stellar and 0x.
As for which coins traders are holding onto the longest, Bitcoin is actually number five on the list.
Longest Held Cryptos – Median Number of Days Held
- Litecoin (LTC) – 119 days
- 0x – 108 days
- Ethereum – 101 days
- Ethereum Classic – 99 days
- Bitcoin – 85 days
A clip of Earn co-founder and former Coinbase CTO Balaji Spinivasan is going viral on Reddit. Spinivasan says Facebook may have to turn to Ethereum in order to legally launch its digital asset Libra.
“I’m not sure Libra launches in the current fashion. They may have to do it on Ethereum or something else. But they are, I think, going to get something out there.”
Ripple and XRP
Ripple CEO Brad Garlinghouse appeared on Fox Business to talk about the potential benefits of digital assets and Facebook’s plans for Libra.
Garlinghouse says he agrees with US Treasury Secretary Steven Mnuchin that regulations are key to the future adoption and success of digital assets, and policymakers need to work to understand the nuances of the emerging industry to avoid stifling innovation.
After launching on Android, the Stellar-based decentralized exchange StellarX has now rolled out its mobile wallet on iOS.
StellarX gives users the ability to send euros, yuan, pounds, dollars and other fiat currencies via ACH transactions that can then be traded for crypto.
Coinbase Launches Exclusive Crypto Trading Signals To Help Investors Make Smart Decisi
- Popular crypto exchange Coinbase announced today that it was adding 3 new trading signals to its native UI so as to help users maximize their returns.
- With this latest move, the firm is trying to attract a new wave of day traders and investors who may be looking to enter the crypto market.
As per an all new blog post released by the folks over at Coinbase earlier today, the premier crypto trading platform has just released three new trading signals that are designed to monitor the buy/sell activities of its users in an automated manner. The announcement has been met with a lot of fanfare and many experts believe that this move will help boost Coinbase’s popularity even more within the global crypto community.
More On The Matter
According to the above linked announcement, Coinbase is providing its users with three new technical indicators that contain niche’ data such as:
The total number of ‘buyers and sellers’ who are currently in the top ten percent (i.e. holders) of people owning a certain alt asset.
The average no. of days that a trader holds on to his/her assets.
The ranking of each crypto commodity by its total number of owners.
The correlation between the values of different alt-assets.In regards to the matter, a spokesperson for Coinbase made it clear that the point of this entire exercise was to allow individual investors to get in line with upcoming market trends in a seamless manner. He then went on to add:
“We want trading signals to help first-time investors build the right portfolio to suit their investment goals. Similar to traditional market sentiment indicators, this information is intended to provide more context for customers rather than impact the broader market.”
- While such activities certainly do look appealing to the average investor, some experts are of the opinion that by revealing the trade activities of its top crypto holders, Coinbase was playing with fire — since the move could dissuade experienced traders from using the premier trading platform.
- In a similar vein, certain insider sources who wish to remain unnamed at this time believe that most day traders will quite likely not adopt these signals.
- A recent study by Coinbase has shown that during the 2017 bull season, a BTC buy-in strategy (that was based on the activities of top holders) allowed investors to incur better returns when compared to other strategies that included buying fixed amounts of Bitcoin.
- However, this exact same strategy when applied to ZRX (over the same time period) was found to result in a loss of around 2%.