Why Coinbase exec says launch of crypto index fund COIN50 is a ‘media play’ – DL News
- Coinbase launched an index fund for crypto.
- The index fund catalogues the price movements of 50 cryptocurrencies.
- COIN50 isn’t just a revenue play, says a Coinbase exec.
On Tuesday, the world’s largest public crypto exchange launched its own crypto index fund: the COIN50, or Coinbase 50.
The investment vehicle pools together 50 different cryptocurrencies. The prices of Bitcoin, Ethereum, and Solana comprise more than 80% of the fund. The COIN50 also includes XRP, Dogecoin, and 45 other coins.
Index funds, which are pools of stocks, bonds, and other financial instruments, are mainstays of traditional finance. Like the S&P 500, which is a fund that’s a proxy for the US securities market, the COIN50 is meant to be a proxy for the broader…
