Coinbase launched its Coinbase Index Fund on Tuesday, which is an asset management service that allows its U.S users, who have an annual income of at least $200,000 or a net worth of at least $1 million, to buy cryptos through a new fund, rather than trading them directly on Coinbase and GDAX. The Coinbase Index Fund will charge 2% for assets under management, which is cheaper than its competitors including Bitwise (2.5%), Grayscale (3%). In addition, Coinbase also plans to launch a similar fund available to retail investors, likely structured as an exchange-traded fund (or ETF), pending regulatory approval.