Bitcoin exchange Coinbase to launch index fund

San Francisco-based virtual currency trading platform Coinbase is launching a index fund, allowing investors to track trends happening in the white-hot cryptocurrency market as it automatically adds any new currencies as they debut.

Dubbed the The Coinbase Index Fund, it will track popular well-known cryptocurrencies such as bitcoin, litecoin and ethereum and will be backdated to 2015, to allow investors a wider frame of past performance for reference. Investors can use any of those currencies,…