Coinbase Index Fund Lowers Fee to 1%, ETC Crypto Asset Option Added
Annual Management Fee Goes Down For Coinbase Index Fund Users, Followed By Addition Of Ethereum Classic
In a post by the official Coinbase blog, the company let consumers know about some new changes to their platform. Rather than gradually ushering in these changes, the very first sentence of the post proclaims this new policy – all new and existing investors will how have a 1% annual management fee. The previous fee was only 2% already, but this lowers the payments they make substantially. According to their publication, they lowered the cost “to attract investors who are familiar with lower-fee index funds in other asset classes.” Ideally, this transition will help them bring more institutional investors into their platform and the rest of the industry.
With their changes, they have also decided to bring in Ethereum Classic on the Coinbase exchange. Any investor that uses their platform have the opportunity to use Ethereum Classic as an asset, though it is clear that the company plans to list another five assets soon. The five assets that they have been “exploring” are Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x, according to a post on July 13th. However, there is been nothing specifically established with these tokens yet, so users will have to wait and see which ones actually happen.
The Coinbase Index Fund makes it possible for investors to look at all of the assets available on Coinbase. Presently, any user that gets involved will need to have a minimum investment of $250,000 to even get involved, and anyone who is considered an accredited investor within the United States can participate. Any investor on the Coinbase exchange cannot exceed $20 million in their fiat investment.