Coinbase to Launch Cryptocurrency Index Fund

Coinbase announced its plans to launch cryptocurrency index fund
07 March 2018   2183

Cryptocurrency exchange Coinbase announced on Tuesday the launch of its index fund, marking the company’s foray into asset management. 

Coinbase has formed a subsidiary called Coinbase Asset Management to oversee the new Coinbase Index Fund, product lead Reuben Bramanathan said. Whenever a new asset is listed, it will be automatically added to the fund.

We’re seeing strong demand from our customers and the market generally for a passive investment management product.

 

Reuben Bramanathan

Product lead, Coinbase

He said the investment product has long been in the company’s roadmap, “but we’re finally seeing demand so that’s why we’re just launching now.”

For now, the fund will only be available to U.S.-resident accredited investors. Bramanathan said Coinbase is working on launching more funds that are accessible to investors and cover a broader range of digital assets.

The new fund will track the Coinbase Index to be launched as well, which is a benchmark of the performance of all assets listed on Coinbase.

BNC to Monitor BTC Community's Mood

The system called Twitter Sentiment analyzes over 34M BTC-related Twitter posts each week, using AI to track the mood of the community
22 January 2020   113

Blockchain-based New Zealand-based research firm Brave New Coin (BNC) has unveiled a new system for measuring the mood of the Bitcoin community based on Twitter messages.

According to BNC, the new Twitter Sentiment rating system analyzes over 34 million BTC-related Twitter posts each week. The company uses artificial intelligence (AI) algorithms that look for records containing the words bitcoin, $ BTC and BTC and others.

BNC notes that user sentiment continues to be a “significant” factor in the price and dynamics of digital assets, and a new technique has been developed to track these sentiments. According to the BNC, it took 18 months to launch the Bitcoin Twitter Sentiment. The data obtained is divided into seven categories - Opinion, Technical Information, Inside the Network, Advertising, Bots, Macros and Hacking.

For the week ending January 17, the most common entries were in the Opinion category - their number was 30.42% of all data received. In second place was the category Technical Information, and in third inside the network (includes information on mining and hashrate).

BNC spokeswoman Pierre Ansaldi said that during the first quarter of this year, the company will also launch community sentiment analysis tools for other crypto assets.