Popular in the US crypto currency exchange Coinbase announced yesterday the launch of its first index Fund. Global Digital Asset Exchange (GDAX), which is owned by Coinbase, will allow accredited investors to track and manipulate the categories of digital assets, focusing on the performance of their market capitalization.
The development of the Coinbase Index due to the growing demand for a tool for the passive control of virtual investment. Such a model will bring digital assets to more traditional decision-making mechanism on the exchange, such as opening and closing positions at market and pending orders.
All assets on GDAX will be combined into classes, and indexed. At this point in the first class embraces Bitcoin, Bitcoin, Cash, Litecoin, Ethereum. Assessment Coinbase, their market capitalization is 62%, 7%, 4% and 27%, respectively.
The company warns: “At this stage we can offer cooperation only to accredited investors from the United States. We want to open funds, available to a wider range of investors and to increase the range of indexed digital assets”. However, Coinbase Index will start to work in full mode only after the approval of the Commission on securities and stock exchanges of the USA.
Earlier, Coinbase PayPal has launched a similar service based on the same four cryptocurrencies.