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This Tuesday, the largest cryptocurrency exchange in the US, Coinbase, announced that it will be launching its Coinbase Index Fund, a weighted tracker of all the cryptocurrencies listed on the GDAX, Coinbase’s trading platform.

The announcement was made at CNBC’s Fast Money, where Coinbase COO Asiff Hirji was ainvited as a guest to give “the big announcement that would rock the crypto world forever.” Hirji said that both the fund and the index would be available to the public very soon.

“It’s a very simple to use, easy way to get exposure to the crypto-assets that we offer on our exchange,” said Hirji.

Given its simplicity, the fund will resemble an exchange-traded fund (ETF), says the COO. Coinbase’s crypto index fund mainly focuses on individual investors, though institutional investors are also welcome. But in its first stages, the index fund will be available only to accredited US investors. US accredited investors are individuals that have a high net worth, with a yearly income that is over $200,000 or a net worth of over $1 million without housing.

The fund will have the role of tracking the Coinbase Index, the benchmark data that evaluates the market capitalization figures of GDAX’s digital currencies: Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. When new cryptocurrencies will be added to Coinbase, Hirji did confirm that the company does have plans of adding more to its list, the cryptos will be automatically listed in the fund.

Financial Times reports that the Coinbase Index Fund will charge a flat 2% annual fee.

The chief operating officer of Coinbase explained the high volume of customer complaints that they were receiving is due to the fact that the market has expanded at an incredible rate, making it almost impossible to avoid “some bumps in the road.”

The exchange wants to address all current problems and it will soon hire 500 employees, with 90 of them already starting their work in the following days. Recently, Emilie Choi was hired by Coinbase to be their VP of corporate and business development. Prior to this, she held the same position at LinkedIn.

Coinbase wants to offer investors the opportunity to trade on the major trends of the crypto market, supporting the growth and development of this asset class. Hirji stated that the company will be releasing more similar funds in the following months.

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