World's first crypto-currency index fund created

Baku. 7 March. REPORT.AZ/ Digital asset exchange Coinbase announced on Tuesday the launch of its first-ever index fund, marking the company’s foray into asset management.

Report informs citing the Russian media, fund will be composed of four core crypto currencies.

Here, the share of Bitcoin will be 62%, Ethereum 27%, Bitcoin Cash 7% and Litecoin 4%.

The index fund, which will invest in the same cryptocurrencies traded on Coinbase and its institutional exchange GDAX—currently including Bitcoin, Ethereum, Bitcoin Cash and Litecoin - will be available only to U.S. accredited investors, or those who have annual income of at least $200,000 or a net worth of at least $1 million. But Coinbase is hoping to launch a similar fund available to all investors regardless of wealth, likely structured as an exchange-traded fund (or ETF), pending regulatory approval.