Coinbase to Launch Cryptocurrency Index Fund

Coinbase announced its plans to launch cryptocurrency index fund
07 March 2018   1370

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.

BTC Volatility to Fall by 98% in a Year

Analyst believe that low volatility indicates a decline in speculative trading 
18 January 2019   91

Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, it was $ 3,468, then a year later - only $ 61, CoinDesk reports.

Note, the daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was about 26%.

In absolute terms, the maximum daily volatility in the first quarter was $ 973, and in the following: $ 345, $ 245 and $ 195, respectively.

At the beginning of 2019, this figure also did not exceed $ 200, and on January 12 it reached a minimum value of $ 45.17.

Analyst stressed that low volatility indicates a decline in speculative trading and an approach to a sharp price movement.

In his opinion, Bitcoin will soon leave the range of $ 3,500- $ 3,700 in favor of the bears. At the moment, the first cryptocurrency is trading at around $ 3,590.