Coinbase – one of the largest digital currency exchanges in the U.S. – is nixing its index fund designed for accredited investors and shifting its focus to a new retail product, The Block reportshttps://theblockcrypto.com/2018/10/11/coinbase-is-shutting-down-its-fund-aimed-at-big-investors-as-it-pivots-to-a-new-retail-product/. Coinbase first announced its fund back in March of 2018. The project was designed to give institutional investors easy access to the digital currency market by offering them an index that represents a basket of Coinbase’s listed assets. During this time, Coinbase representatives stated that they were “seeing strong demand from institutional and high net worth individuals.” However, now the index fund has failed to attract an appropriate number of clients. Coinbase was reportedly unable to garner necessary revenue from the project and has since decided to move on to other endeavors. The latest retail product entitled the Coinbase Bundle, launched at the end of September. Using the feature, investors can purchase an assortment of the coins offered on Coinbase with one click. Minimum purchases begin at $25. Differing from an index fund, Coinbase Bundle does not offer fixed methodologies, nor does it provide rebalancing options. This is not the first feature of its kind. Circle introduced its clients to a similar product entitled Circle Invest, which allows users to buy up to 11 diff...
