✂️ Coinbase cuts crypto index management fee in half

Coinbase announced a fee reduction for its index product from two percent of assets under management down to one percent. The move is meant to entice investors that are typically used to lower cost investment products with some equity index products charging near-zero fees. Along with the announcement, Coinbase rebalanced the portfolio to include Ethereum Classic ($ETC) while reiterating plans to explore adding Cardano ($ADA), Basic Attention Token ($BAT), Stellar Lumens ($XLM), ZCash ($ZEC), and 0x ($ZRX). In order to access the product investors must put down a minimum of $250,000 and can invest up to $20 million making it a decidedly institutional focused product.