Coinbase Index Fund will track the top cryptocurrencies

Coinbase, one of the largest cryptocurrency exchanges in the world, is launching an index fund for cryptocurrencies, the company announced Tuesday. 

The Coinbase Index Fund is a weighted average fund that ranks cryptocurrencies based on their market cap. 

The fund will give users exposure to all of the assets listed on Coinbase's exchange, GDAX. Currently, this includes just four cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin. 

Currently, the CIF is only available to U.S.-resident, accredited investors. "We’re working on launching more funds which are available to all investors and cover a broader range of digital assets," Coinbase said in a blog post.  Read more...