Jon Russell / Flickr

Coinbase, the popular cryptocurrency wallet and exchange, announced Tuesday that its Index Fund is now open for investments of $250,000 to $20,000,000.

In the announcement, Coinbase briefly describes the type of exposure investors might expect from the Coinbase Index Fund, which leverages a simple market cap system of weighting and includes all assets listed on the Coinbase exchange.

Just yesterday, Coinbase unveiled that Ethereum Classic (ETC) would be the next cryptocurrency added to its trading platform and other various investment products. In the latest announcement, the company confirms that Ethereum Classic will be included in the new index fund after a rebalancing event.

The Coinbase Index fund, while a simplified diversification tool, is not available to all investors and is only open to US-resident accredited investors at this time. However, the company emphasizes that it is actively working on launching more funds with greater accessibility and market coverage.

Coinbase first announced the new investment product back in March. Since that time, a number of companies have released their own index funds, including popular Asian crypto exchanges Huobi and OKEx.

More: Coinbase Index Fund is Open For Investment
Related: Coinbase Plans to Add Ethereum Classic (ETC)
Photo: Jon Russell / Flickr