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Coinbase is shutting down its fund aimed at big investors as it pivots to a new retail product

by Frank Chaparro

October 11, 2018, 12:29PM EDT  ·  2 min read

Quick Take

  • Coinbase is shutting down its index fund aimed at wealthy investors as it shifts its focus to a new retail product
  • A person familiar with the situation said the fund failed to attract enough interest
  • The firm is pivoting its focus to “Coinbase Bundle,” a recently announced product

by Frank Chaparro

October 11, 2018, 12:29PM EDT  ·  2 min read

Coinbase, the cryptocurrency exchange operator, is shutting down its index fund as it shifts attention to a new retail offering, a person with direct knowledge of the situation told The Block. 

The poster-child of the cryptocurrency market in the U.S., Coinbase in March announced its aspirations to launch a market-value-weighted index fund to offer accredited investors and institutions exposure to the digital currencies trading on its exchange.