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Illustration: Rebecca Zisser / Axios

Coinbase, which operates the GDAX cryptocurrency exchange, is introducing an index fund —comprised of Bitcoin, Bitcoin Cash, Ether, and Litecoin— weighed per market cap.

Why it matters: With the creation of new digital tokens, cryptocurrencies have grown into a full-fledged asset class, with demand for various investment options. Another cryptocurrency index fund, Bitwise Asset Management, made headlines in December when it raised funding from Silicon Valley investors David Sacks, Keith Rabois (Khosla Ventures), and Naval Ravikant, among others.

Details:

  • This first fund is aimed as an entry-point for folks who are new to digital tokens, or for those who want a passive investment, Coinbase product manager Reuben Bramanathan tells Axios.
  • It's only available for U.S.-based accredited investors, though the company is working to eventually add a fund for retail investors (no timeline yet).
  • There's a minimum investment of $10,000 and flat 2% fee for investors, without any performance fees.

Go deeper

In photos: Protests outside fortified capitols draw only small groups

Armed members of the far-right extremist group the Boogaloo Bois near the Michigan Capitol Building in Lansing on Jan. 17. About 20 protesters showed up, AP notes. Photo: Seth Herald/AFP via Getty Images

Small groups of protesters rallied outside fortified statehouses over the weekend ahead of President-elect Joe Biden's inauguration Wednesday.

The big picture: Some protests attracted armed members of far-right extremist groups but there were no reports of clashes, as had been feared. The National Guard and law enforcement outnumbered demonstrators, as security was heightened around the U.S. to avoid a repeat of the Jan. 6 U.S. Capitol riots, per AP.

5 hours ago - Politics & Policy

Trump to issue at least 100 pardons and commutations before leaving office

Photo: Mandel Ngan/AFP via Getty Images

President Trump plans to issue at least 100 pardons and commutations on his final full day in office Tuesday, sources familiar with the matter told Axios.

Why it matters: This is a continuation of the president's controversial December spree that saw full pardons granted to more than two dozen people — including former Trump campaign chair Paul Manafort, longtime associate Roger Stone and Charles Kushner, the father of Trump's senior adviser and son-in-law, Jared Kushner.

  • The pardons set to be issued before Trump exits the White House will be a mix of criminal justice ones and pardons for people connected to the president, the sources said.
  • CNN first reported this news.

Go deeper: Convicts turn to D.C. fixers for Trump pardons

Schumer's m(aj)ority checklist

Senate Minority Leader Chuck Schumer. Photo: Tasos Katopodis/Getty Images

Capitalizing on the Georgia runoffs, achieving a 50-50 Senate and launching an impeachment trial are weighty to-dos for getting Joe Biden's administration up and running on Day One.

What to watch: A blend of ceremonies, hearings and legal timelines will come into play on Tuesday and Wednesday so Chuck Schumer can actually claim the Senate majority and propel the new president's agenda.