Coinbase’s COO Asiff Hirji dropped the news on CNBC Fast Money that they will be adding a cryptocurrency Index Fund.
The fund will be setup “like an ETF”, but it won’t quite be the same since it’s focused on cryptocurrency. Many investors are interested in getting in the crypto markets, but are not fans of the volatility.
Asiff says they plan to rollout very soon, opening the doors to accredited investors first, located in the US. The Fund will give investors exposure to all digital assets listed on Coinbase’s exchange, GDAX, weighted by market capitalization.
If a new asset is listed on the exchange, it will be automatically added to the fund.
Asiff also announced they still plan on adding additional assets, but none at this time, shooting down all rumors that Ripple will be added once again.
See full official statement here –https://blog.coinbase.com/
