Coinbase to Reduce Index Fund Fee to 1%

Additionally, american cryptocurrency exchange reported on the Ethereum Classic listing to the Index Fund
14 August 2018   1438

The American cryptocurrency company Coinbase announced the reduction of fees for managing the index fund - from two to one percent in annual terms.

According to representatives of Coinbase, the decision was made to attract investors investing in other index funds based on other classes of assets. This, according to the company, will help attract institutional money to the crypto industry.

Also it is noted that the index fund of Coinbase was rebalanced to list the Ethereum Classic. In addition, the company said that they will supplement the fund with new assets (currently there are only five of them).

The Coinbase index fund gives accredited investors from the United States the opportunity to invest in the most liquid crypto assets weighted by their market capitalization. The minimum investment in the fund is $ 250,000, the maximum allowable - $ 20 million.

Coinbase to Earn $2B On Trading Fees Since 2012

According to the CEO, most of these money were invested in the company itself, because "I want Coinbase to be a company of repeatable innovation"
24 October 2019   236

At the Vanity Fair summit in Los Angeles, Coinbase CEO Brian Armstrong said that since launching in 2012, the company has earned about $ 2 billion in user transaction fees. Also, according to him, Coinbase has been profitable since 2017, according to Vanity Fair.

Most of these profits were plowing back into the business to create new products. I sort of think of us as the anti-unicorn unicorn...I want Coinbase to be a company of repeatable innovation.
 

Brian Armstrong

CEO, Coinbase

 

The head of the American company added that cryptocurrencies are creating a new economy that will occupy a significant share in the GDP of various countries. The digital asset market itself will stabilize and grow as speculation diminishes.