Coinbase Index Fund to include Ethereum Classic [ETC] soon!

Coinbase, recently in one of their Twitter posts, mentioned that they would soon include Ethereum Classic [ETC]. Ethereum Classic ranks 18 among the many cryptocurrencies currently and has been in news lately for the many initiatives, one of them being their incubator program for startups.

Coinbase announcement about Index Fund | Source: Twitter

Coinbase announcement about Index Fund | Source: Twitter

Coinbase on the Index Fund thread announce ETC inclusion | Source: Twitter

Coinbase on the Index Fund thread announce ETC inclusion | Source: Twitter

The San Francisco-based exchange, known for being one of the secure and legitimate crypto exchanges, has over 12 coins pairs listed on their platform [GDAX]. The first expansion of its trade listings was launched in May 2016 [Ether], the third one came after a long break of one whole year when it launched Litecoin.

The most recent listing was announced way back in December 2017, that is, Bitcoin Cash. With regard to listing ETC they mention in their blog:

“Per this process, we will now begin the engineering work (Step 4) for supporting Ethereum Classic. As part of this process, customers can expect to see public-facing APIs and other signs that the asset is being added. When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter (Step 5).”

Coinbase made this statement on the wedge of the Index fund investment announcement. The index fund is the investment medium that tracks and grants returns based on the index, an indicator or measure of something, and in finance, it typically refers to a statistical measure of change in a securities market.

Coinbase Index Fund gives investors vulnerability to all assets listed on Coinbase’s exchange by weighted market capitalization. This fund will be rebalanced to include Ethereum Classic, and more assets when they are listed by Coinbase in the future. The Medium message read:

“Coinbase Index Fund is now open for investments of $250,000 to $20M.”

It further stated:

“At this stage, Coinbase Index Fund is only open to US-resident accredited investors. We’re working on launching more funds which are accessible to all investors and cover a broader range of digital assets.”

This post saw a lot of reactions from the crypto enthusiasts and some of them directing Coinbase to list NEO, XRP, and ZRX

Topfeathers, a Twitter user commented:

“$NEO will surprise everyone soon! NEO is a government friendly blockchain. Regulation complaint ready.”

While the reactions included brickbats as well. Steven Carrejo, a Twitter user commented:

“No one asked for Ethereum Classic. Literally. That’s a complete waste.”

The post Coinbase Index Fund to include Ethereum Classic [ETC] soon! appeared first on AMBCrypto.