Coinbase Opens Cryptocurrency Index Fund
New cryptocurrency ETFs (Exchange Traded Funds) would be big positive news for small investors-New cryptocurrency Index Funds are even BIGGER news, but typically Index Funds are for Big Banks and Accredited Investors that just want to buy and hold for the longer term.
Kind of a coincidence that right after Wells Fargo and many other US banks make it more difficult for individuals and business bank customers to purchase crypto (no credit card usage allowed) only debit cards, that Coinbase then makes it super convenient for banks and Accredited Investors (those able to invest a minimum of 250,000 USD) to purchase cryptocurrency.
Coinbase gets to collect a 2% annual management fee and makes their Cryptocurrency Index Fund only available to US-residents, and accredited investors.
The reason/excuse that the USA banks are using is that cryptocurrency could be a risky investment- however, they still do not restrict their customers from using their credit cards at casinos! On the other side of things, a lot of consumers that look to invest in cryptocurrency always try to find a coinbase alternative to evade having to miss out on a single cent. Before everything though, they must be aware of all the details that go into a cryptocurrency investment, from exchange rates to the different types of digital currency available in the market right now. For the same, they would need to read up articles, blogs and other online resources (for instance, https://www.coin.cloud/blog/how-to-cash-out-ethereum) and become adept in the same.
The specific coins held in the Coinbase Cryptocurrency Index Fund and ETFs from Huobi and OKEx are the ones to be watching and considering putting through something like an ETF Simulator to see if they could be a good potential investment.
I was actually speaking to a friend of mine who lives in Germany about this a few days ago. He told me that comparing a few different ETFs can help you to find the ETF that is best suited to your investment portfolio. Consequently, you can learn more about some of the most popular types of ETFs out there by taking a look at ein Vergleich von verschiedenen ETFs (a comparison of different ETFs) online.
So, let us discuss which ETFs to keep an eye on.
ETF & Index Fund Coins to track
Coinbase Cryptocurrency Index Fund: Bitcoin, Ethereum, Bitcoin Cash, Litecoin
Huobi 10 ETF Composition: As of the 28th of May 2018, the index includes BTC (26%), HT (25.6%), EOS (17%), ETH (11.3%), BCH (5.1%), XRP (4.2%), LTC (3.2%), IOST (3%), ETC (2.5%), and DASH (1.7%). The index will be rebalanced every quarter.
OKEx: the crypto-to-crypto trading platform by OKCoin launched OK06 Exchange-Traded Tracker (OK06ETT). ETT will start off listing six cryptocurrencies that are traded on their platform: bitcoin, ethereum, litecoin, bitcoin cash, EOS and “OKB”, which is their own utility token.
Binance will soon be launching an ETF as well.
Fidelity (in the USA): Has also announced building a digital asset exchange and an ETF.
The general takeaway for these new cryptocurrency developments is very bullish news for the longterm price of cryptocurrency in general and specifically for those coins held by the individual Cryptocurrency Index Funds and ETFs.
Green-Eco-EV News Reporting by Ken Green Burridge
Kenneth Burridge test-drives electric Nissan LEAF in Melbourne Australia
Independent green journalist, EV of the Year Judge, photographer, author and sustainability activist that has published over 1000 articles. Mr Burridge’s travels have taken him to over 40 countries and 300+ major cities. He is originally from the USA, but has been residing in Australia for the last seven years. Connect to Ken Burridge on: Twitter, steemit, facebook, Google+, Linked in or website
