Coinbase's active traders decline; index fund to close


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https://seekingalpha.com/news/3396806-coinbases-active-traders-decline-index-fund-close?dr=1#email_link

Coinbase (COINB), one of the largest crypto exchanges, has seen the number of monthly U.S. customers trading on its platform declining 80% in the December 2017-September 2018 timespan, according to a study by Tribe Capital. During that period, Bitcoin lost about 60% of its value.

The Tribe findings jibe with another study, from Diar Ltd., that says Coinbase’s U.S. dollar volume sank 80% from Q4 2017 to Q3 2018.

In a different, but related, development, Coinbase is shutting its index fund to re-focus on a new retail offer, The Block reports, citing a person familiar with the matter. The fund attracted fewer clients and raised less funds than expected.

Instead, Coinbase is starting a new feature called “Coinbase Bundle” that allows users to buy a bundle of coins listed on its exchange with a starting investment of as little as $25.