SCOTTSDALE, Ariz., Dec. 3, 2020 /PRNewswire/ -- IDX Insights, a research & development firm, announces the launch of the IDX Tactical Bitcoin Index on Coinbase. The index is designed to opportunistically allocate between bitcoin and cash using a proprietary rules-based process. The index seeks to provide a risk-managed allocation option for investors seeking exposure to bitcoin with lower volatility and lower drawdowns than a long-only allocation. Coinbase, Inc. clients can now engage IDX Insights directly in order to implement the IDX Tactical Bitcoin Index strategy in their accounts.
Ben McMillan, founding partner and CIO of IDX Insights said, "We're thrilled that investors can now invest in our Tactical Bitcoin Index via Coinbase. As institutional interest in bitcoin has continued to grow, we continue to believe, now more than ever, that a tactical approach to this asset class is a more prudent approach for most investors. As the leading institutional custodian and trading venue for bitcoin, it makes sense that Coinbase continues to lead the way in unlocking innovative solutions for investors."
Brian Foster, of Coinbase's Institutional Coverage team and Coinbase Ventures, said: "Institutional investors are now allocating to crypto in size, and we believe risk-managed strategies will appeal to many of them. We're excited to support IDX as their trusted custodial and execution partner."
About Coinbase Coinbase is the easiest and most trusted place to buy, sell, and manage crypto, offering a suite of products for institutional investors, active traders, businesses, and individuals. Our institutional clients include leading endowments, corporations, hedge funds, VCs, RIAs, fintechs, and banks. Coinbase's institutional trading business operates one of the largest regulated exchanges and the leading agency brokerage, which algorithmically executes large orders across multiple venues, maintaining trade secrecy and minimizing market impact. Coinbase Custody is a Qualified Custodian and a NYDFS-regulated Limited Purpose Trust Company. Coinbase Custody supports more than 70 assets and enables unique protocol capabilities like staking and governance, allowing clients to get the most out of their assets.