Coinbase has successfully launched its eagerly awaited Index Fund just yesterday, Wednesday June 13th. The Index Fund is specifically catered for the platform’s large investors with willing to invest funds ranging from $250,000 to $20 Million.

In the announcement by the company’s Product Lead, Reuben Bramanathan, the Index Fund was created because there was an overwhelming interest from investors about the product since the idea was put forth back in early March. The Index Fund will give investors exposure to all assets listed on the exchange and shall be weighted according to the market capitalization of each digital asset. The new product is currently only available to US residents and accredited investors.

The exchange is working on launching more funds which are available to all investors and which cover a broader range of digital assets.

Coinbase currently supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum Classic (ETC) that was recently listed.

However, the Coinbase Index Fund is currently only composed of Bitcoin (61.49%), Ethereum (27.19%), Bitcoin Cash (8.27%) and Litecoin (3.05%). Ethereum Classic will be added at a yet to be announced date in the future.

Investments of the new product will be accepted in USD with a monthly investment window. Anyone willing to redeem their investments from the fund has to give a 30 days notice with the redemption only available on a quarterly basis. There will also be a 2% management fee by the platform.

Coinbase launches the product in a period of uncertainty with the crypto-markets being affected by the Coinrail hack as well as the ongoing investigation of 4 cryptocurrency exchanges by the CFTC (Commodity Futures Trading Commission) with regards to their involvement in possible Bitcoin manipulation since last year.

As a result, the total crypto-market capitalization has dropped below $300 Billion and currently stands at $280 Billion. Bitcoin, being the King of Crypto, is currently trading at $6,530 with a gain of 0.08% in 24 hours. This is some welcome stability for the last four days have been a period of constant decline of not only BTC, but all the other digital assets available.