See the orginal video here:
https://twitter.com/cnbcfastmoney/status/971153828816056321?s=21
- Coinbase will offer an index funds in a new entity
- will market weight coins offered on coinbase
- supposedly low fees
- only for accredited investors (so far, for legal reasons)
I think this is great news and will allow people to easily invest into crypto.
WOW.
I think coinbase is doig a great job at allowing people to invest i to crypto.
Of course this will only be fun if:
- coinbase adds more coins
- everyone can buy the index
But still this is a great next step
Leading cryptocurrency brokerage Coinbase has recently announced the launch of a new passively managed cryptocurrency index fund. The new investment vehicle will expose investors to the four cryptocurrencies traded on Coinbase’s GDAX exchange and marks the platform’s first push into asset management services.
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interesting but I dont understand the accredited investor part.
Who decides if one is a accredited investor or not?
So it will be an etf without really being an etf or will they just apply to the commitee if they get it through like the winklevoss twins?
But any positive news are welcome at the moment if I look at the market today
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Standard us law. Must have 1m networh or 300k yearly income. Something in that range
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ah thx for clearing that up to me.
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Not for the average person is what that means
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WOW exciting things to come :D
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The Fund will follow the Coinbase Index, benchmark data that measures the market value of GDAX's cryptographic currencies. These crypto payments mainly consist of Bitcoin, Bitcoin Cash, Litecoin and Ethereum. When Coinbase adds new crypto currencies approved by COO Asiff Hirji, they will be automatically listed in the fonda.
Coinbase aims to support the development of this entity class. Therefore investors want to offer the opportunity to invest in the main crypto units in the crypto money market. Hirji also announced that the company will be issuing similar funds in the coming months.. @knircky
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Here we have coinbase running an overlay on their on coin trading architecture. However, if I can robotically trade mt coinbase accounts then I can have personal control with a simple index trader. Coinbase will use a proprietary bearer network in their data center. Web router inverts, separates that network as open source protocol management, notaries on duty. If I choose, I'll create the candy bar index, it looks like a spreadsheet algorithm, runs fine in the router.
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For me that’s a great news since I’m a Coinbase and TD ameritrade customer. I will definitely look at the index once it’s available. There is already crypto company on stock exchange I’m invested in (symbol GBTC) Bitcoin Investment Trust holds bitcoins and, from time to time, issues creation baskets in exchange for deposits of bitcoins. The activities of the Trust also includes transferring actual bitcoins in exchange for Baskets surrendered for redemption by the authorized participants, causing the sponsor to sell bitcoins on the termination of the Trust. Which means if bitcoin goes up GBTC goes up as well and you can buy it for much less then bitcoin itself.
Thanks for this great news!
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This could help coinbase get over the bad reputation, that they have gained. Makes me think I could design my own crypto coin index. A coin-folio which should help with building trust in the market from new e-vestors.
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Interesting step and smart. Great news for adoption reasons as well!
Too bad it is just for the coins they currently have on their platform though. Would be great when they create multiple 'baskets' to pick from and include other coins on the market.
I will skip this one but will keep an eye on it :-)
Thanks for sharing @knirky!
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Yeah exactly...leaving out 95% of the market lol!
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While I'm sure this is great news, I struggle to understand how this makes it easier to invest in crypto. In my opinion, buying crypto on Coinbase now is pretty much as easy as it can get.
I'm also kind of concerned that if most people new to crypto gets introduced to it this way they will fail to understand the brilliance of the trustlessness of cryptocurrencies. If everyone who use cryptocurrencies manage them similarly to how they would manage assets in a bank, the whole value of cryptocurrencies is based on a very tiny percentage of its user understanding why cryptocurrencies are brilliant.
I do, however, realize that even if people don't hold their own private keys, cryptocurrencies still make it much easier to transfer value across borders, so I guess that gives it some value in itself.
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Someone that does not want to manage a portfolio can simply put a chunk of change into the fund and let coinbase do the rebalancing. This also has tax implications ( if u do it yourself u pay taxes, if the fund does it then not).
Too bad only rich prople are allowed to use it, but that is how the US works....
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Yeah, I see your point. US economics do indeed seem to favor the rich sometimes...
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Always!
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Disclaimer: I am just a bot trying to be helpful.
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With coinbase you have two addresses. One for your wallet and one for your vault. The vault is the most secured because you need authentication to even use it.. And that is why i prefer coinbase. This mission will help to inform as many youths, graduates, unemployed even employed that you can earn a living investing in crypto currency. Thanks for the update
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Definitely great news! I am waiting for my country to be accepted...
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Great news anyway. For adoption for sure, but i think that the real future is on decentralized exchanges anyway.
I trade only on BitShares. Yes I'm limited a little (BTC, ETH, EOS, STEEM, ... and some 20 other coins in form of pegged assets nominated in core token BTS)
They have even GOLD and SILVER pegged tokens so I can trade commodities too.
But the greatest pro is security and anonymity. Everything is happening on BitShares blockchain (like Steem) and I have full time control over my funds (Only I have my private key of BTS wallet).
There is also bitUSD and bitCNY tokens pegged to USD and CNY. (no theter mumbo jumbo or shifting funds on and off the exchange). Currently I hold all my stable wealth in CNY because from 11. feb CNY goes up 3.6% against USD. And when the wind changes I will simply transfer funds back to USD).
But the best of the best are fees. Currently typical fee (for trading BTS) is 0.00092 BTS this is $0.00015 per trade so I can make 63 trades for a cent.
You definitely have to try it. If you decide to do that. My advice to you is always welcome.
Be good :-) !
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wow ,, good news for all of us. hopefully all parties come to support for this to happen .. and hopefully will be many coins available ..
I think it's a big step and great news for all of us
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Yes right it's great news.
Upvote and resteemed
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So they want to make an ETF, which is not exactly an ETF? To be honest I dont really see the great value in this UNLESS as you say they add additional coins to this "index fund". I have to dig a little in order to understand what he meant.
This is obviously a try to get into the asset management area - good for crypro! Now they only need a big name to be in charge of this fund or a strategic partnership to seal the deal.
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Investment funds are a great way to lower your risk, especially considering that we are talking about cryptocurrencies that are surrounded with a lot of uncertainty. I´m curious to know more about this and especially what will be the adoption of the customers of Coinbase, will they adopt this financial asset massively? or will it be a failure?.
Very good initiative from Coinbase, let's see who is the first Bank to implement something like this, maybe even this year.
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Only for accredited investors...which means not for the general public right now. Not a fan of coinbase!
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hmmmm .... this looks interesting. Thanks for sharing. I'll keep an eye on this one.
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