Bitcoin (BTC)

$ 7299.25

Bitcoin Cash (BCH)

$ 0.4496

Ethereum (ETH)

$ 455.694

Ripple (XRP)

$ 765.066

HOT NEWS
Bitcoin Costs Stabilize Above $6K – But Will They Keep? Jim Chanos Is Out of His Depth Trashing Crypto Assets There&#039s A New Bitcoin Core in Town – And It&#039s Out to Troll Bitcoin Money Enjoy Decentralized Art at Satoshi’s Place Bitcoin and Manga Collide in Shonen Crypto Switzerland Rejects Pro-Crypto Sovereign Money Initiative Coinbase Announces Intended Support for Ethereum Classic
Homepage / News June 1, 2018 33 views

Huobi Is Launching a Cryptocurrency Exchange-Traded Fund

Huobi Is Launching a Cryptocurrency Exchange-Traded Fund

Cryptocurrency trading platform Huobi is launching a crypto-based exchange traded fund (ETF), an investment option that will permit retail investors to obtain exposure to a basket of assets as an alternative of just 1 at a time.

The firm stated in an announcement on Friday that the investment instrument – called HB10 – is now open for subscriptions but only accepts purchases making use of cryptos alternatively of fiat currencies.

According to the announcement, the new solution will replicate the Huobi 10 index, which was recently launched to track&nbsp10 different assets on Huobi Pro exchange in genuine time primarily based on their&nbspmarket capitalization and liquidity.

As previously reported by CoinDesk, the index makes use of weighted samples to reflect the overall marketplace performance on Huobi Pro. By tracking that, Huobi touts that HB10 will help to diversify risks for retail investors whilst providing them exposure to significant cryptocurrency assets.

The firm further added because the item will also be available for institutional investors, it could potentially “minimize the influence of institutional entry and exit” on a single cryptocurrency.

Meanwhile, a firm representative told CoinDesk that the new supplying will have a comparable restriction rule as Huobi Pro. For instance, even though it will nevertheless be accessible for investors from China, the new service notably excludes these from the U.S., given a regulatory uncertainty on cryptocurrency associated ETFs in the country.

Market place index image by way of Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Published at Fri, 01 Jun 2018 06:00:46 +0000

Tags