News

Coinbase is shutting down its Index Fund

Cryptocurrency exchange Coinbase is shutting down its institutional-investor focused index fund product. The news was first reported on Thursday by The Block.

Later, a Coinbase spokesperson told CoinDesk that the Coinbase Index Fund – first launched earlier this year – will be formally closed by the end of the month, with customers instead directed to the recently-announced Coinbase Bundle product instead.

“After assessing demand from retail, accredited and institutional investors, Coinbase has decided to shut down Coinbase Index Fund. We will focus on providing diversified exposure to all investors through Coinbase Bundle,” – the spokeperson said.

Unlike the index fund, the bundle is open to all Coinbase customers, with no accreditation required. The minimum required investment is only $25 as well, compared to $250,000 for the fund.

Coinbase decided to refocus the resources devoted to managing the Coinbase Index Fund to other parts of the business.

On October 11, Coinbase Pro listed 0x (ZRX) on its platform. Available order books are ZRX/USD, ZRX/EUR and ZRX/BTC. According to the recent tweet from Coinbase Pro, ZRX trading on the platform is now fully live.