US-based cryptocurrency exchange Coinbase has updated investors on a couple of changes to its Index Fund, with the reduction of the service’s annual management fee and the addition of Ethereum Classic (ETC).
Coinbase said in a blog post on Monday that the Index Fund’s annual management fee will be cut from 2% to 1% for both existing and new investors.
“We’re reducing our fee in order to attract investors who are familiar with lower-fee index funds in other asset classes. This will help introduce a new category of institutional investors into the cryptocurrency space,” the company explained.
The Coinbase Index Fund, the exchange’s custodial fund intended for institutional investors, was launched in mid-June. Currently, the service is available only to US resident accredited investors who have a net worth of more than $1 million or an annual salary of more than $200,000. The minimum inv...
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