Coinbase Index Fund enters market, cryptocurrency price down

Posted 07 March, 2018

The middle of the week has been marked by lower prices for all major cryptocurrencies.

On Bitfinex, the leading digital coin, bitcoin, changed hands at $10,756 Wednesday morning, which is somewhat 4.45% down d-o-d. A similar decline was posted by Ethereum – 4.22% down to $810.98 on this exchange.

Poloinex exchange witnessed Ripple falling to $0.90355 (5.5% down). The price for Litecoin was at some $196 (4% down).

This time insiders set sights on the reports about the planned launch of the index cryptocurrency fund by Coinbase. In the other words, the platform is about to enter the asset management market.

Initially, Coinbase Index Fund run by Coinbase Asset Management will be available only to investors with US certification. They will get access to all virtual assets that are traded on GDAX exchange. The currencies will be added to the fund in line with their market cap.

Meanwhile, BOE’s economist Andrew Haldane commented that it would be too risky to invest into cryptocurrency, which came in line with the previous statements of BOE’s Chairman Mark Carney. At the same time, he also added that digital coins were not a threat to the global financial system so far being priced below 1% of the total global wealth.

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07 March, 2018 14:44

← SEC brings to light many ICO problems

SEC's investigation is focused on ICO structure, which should no longer be a surprise for the market. Specifically, the regulator has already taken measures against companies connected with ICO forcing them to improve protection of investors. SEC's Chairman Jay Clayton made ultra critical comments on ICO activities during his speech to the Congress.

SEC brings to light many ICO problems

Next story

06 March, 2018 17:02

US dollar practically at weekly bottom vs majors →

The US dollar has posted just slight changes vs the majors on March 6 and stays near the weekly bottom. The market remains somewhat confused with the Trump's announcement of import duty imposition. According to the news reports, the US President Donald Trump faced heavy critics after making a proposal to set import duty on steel and aluminum.

US dollar practically at weekly bottom vs majors
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