Fresh from revealing plans to add Ethereum Classic to its exchange, crypto giant Coinbase today announced that its cryptocurrency index fund — first revealed in March — is open to investors in the U.S..
The company said in a blog post that it has see “overwhelming” interest from investors, and now it is reaching out to those who want to invest between $250,000 and $20 million. For now, the company said, participation is limited to the U.S. and those who are accredited investors.
That’s a pretty big caveat since crypto, by default, is open to anyone — although many ICOs tread carefully in markets like the U.S. — but Coinbase is very specifically target institutional capital, having recently added services for Wall Street-like professional investors.
The pitch is that it knows the market, its service covers the most stable assets and it won’t charge the kind of rates that existing funds do, as Coinbase CEO Brian Armstrong explained on Twitter.