Coinbase Index Fund - close to Dow Jones, but with crypto assets
Coinbase has introduced a new branded Index Fund which, according to the first reporters who looked into its mechanism, can be compared to the classic instrument of fiat assets’ traders - Dow Jones Industrial Average. The basic essence of the latter is that it allows to take a look at the overall state of the American economy and at the current situation with major organizations.
The president of Coinbase explains this new addition by saying that the customers of the exchange would now have better understanding of the assets the organization offers to trade. When asked about the current market situation, he called the $10,000 price of Bitcoin a healthy one, although admitted this is still not the December maximum.
The fact that Coinbase often appears in the news reflects its increasing activity on the market. The company is also hiring new people from respectful fiat market corporations, with Emilie Choi from LinkedIn hired as vice president of corporate and business development being the latest example.
The Internal Revenue Service and the Securities and Exchange Commission, American financial crimes enforcement agencies, are closely monitoring this exchange.
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