Coinbase reveals and opens its cryptocurrency index fund towards US investors
Good news from Coinbase which increases its present on the cryptocurrency scene and opens and welcomes its Crypto Index Fund towards US investors. While the fund was first advertised in March it is not the moment where it is opened for US market to get involved.
The investment slice to take part from the fund is somewhere between $250,000 and $20 million which always for a great margin to invest and lets a wide social blanket get into the game. Accredited investors are welcomed at this phase and probably other participants can get into through them. The focus is first in US as there is huge capital there and it can bump up the investments in the blockchain technologies. After adoption at this stage then it will spread to other regulated investors that can have a place at the table.
Wall Street investors and financial institutions are the engine that should drive this fund and get it to new highs. This is the right approach for the industry and once started it will spread in waves. Brian Armstrong, Coinbase CEO in an intervention on Twitter explained the strengths for joining such investment. Here is a look at it.
The next step would be for Coinbase to come up with new funds that are “accessible to all investors and cover a broader range of digital assets” beside the current conditions to take part of the current offering. On the other side the aim to be be SEC-compliant, which ensures business development without the headache of wrong doings, might slow the process in this direct.
But, considering the current market downfall after a new hack and stole of cryptos, we need to wait and see how the fund will succeed in raising the funds needed to make an impact and drive the market where it is supposed to be. I think that there is too little interest for security, which if would ensure that the downs from the market wouldn't be as often as there currently are. But, on the other side such situations create an opportunity to BUY and then either to HODL or SELL for significant returns.
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