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Coinbase has quietly shut down the Coinbase Bundle product

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The Coinbase Bundle product has been deprecated, per an FAQ on the cryptocurrency exchange's site. All cryptocurrency balances that users obtained via Bundle purchases have been placed into the respective asset wallet in the Coinbase user's account.The post Coinbase has quietly shut down the Coinbase Bundle product appeared first on The Block.
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The Coinbase Bundle product has been deprecated, per an FAQ on the cryptocurrency exchange's site. All cryptocurrency balances that users obtained via Bundle purchases have been placed into the respective asset wallet in the Coinbase user's account.

Coinbase Bundle was launched in September 2018. The product was intended to make it easy for users to purchase a market-weighted basket of cryptocurrencies with as little as $25. At launch, the Bundle included the 5 cryptocurrencies listed on Coinbase: bitcoin, bitcoin cash, ethereum, ethereum classic, and litecoin.

In its introductory announcement, Coinbase stressed the ease and exploratory nature of Coinbase Bundle as opposed to purchasing individual cryptocurrencies:

“The vision of an open financial system depends on people’s ability to understand, explore, and choose cryptocurrencies. We expect that millions of people will make their first cryptocurrency purchase in the coming years. But all too often, getting started can be overwhelming for people learning about crypto for the first time.”

Less than two weeks after the launch of Coinbase Bundle, the company shut down an index fund aimed at wealthy investors and institutions in order to devote resources to the retail offering.

The news was first reported by Crypto Briefing.