Coinbase recently announced in a post made on Twitter that they would soon support trading for Ethereum Classic [ETC]. Ethereum Classic is currently ranked among the top 18 cryptocurrencies and has been lately in the public eye for its many developments, including serving as an incubator program for startups.
“Coinbase Index Fund gives investors exposure to all assets on our exchange, which will soon include Ethereum Classic. We’re working on launching more funds which will cover a broader range of digital assets,” read the tweet.
The US-based company is known for being among the most secure and reliable exchanges, offering more than 12 coin pairs on their trading platform [GDAX]. The first addition to its trading list occurred in May 2016 with Ether, with the third being launched after a long break of an entire year when it offered support for Litecoin.
The most recent addition to the list was publicised quite some time ago in the last month of 2017, in which the coin listed Bitcoin Cash. Regarding the ETC listing they stated in their blog the following:
“Per this process, we will now begin the engineering work (Step 4) for supporting Ethereum Classic. As part of this process, customers can expect to see public-facing APIs and other signs that the asset is being added. When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter (Step 5).”
The statement was made by the exchange right after they announced their Index fund investment. The index fund is a tool which investors can use to track and give returns according to the index, which is a statistical indicator of movements in the securities market.
Coinbase Index Fund offers investors access to all listed items on the exchange. This fund will be realigning the weightings of their assets to include Ethereum Classic, as well as other assets when further listings will occur on the platform.
“Coinbase Index Fund is now open for investments of $250,000 to $20M,” read the Medium message.
The statement went on to say:
“At this stage, Coinbase Index Fund is only open to US-resident accredited investors. We’re working on launching more funds which are accessible to all investors and cover a broader range of digital assets.”
This post was met with a mix of reactions from the crypto community, with some being excited about the listing and further suggesting that Coinbase list more cryptos including NEO, XRP, and ZRX, while others viewed the move as a complete waste.