OKEx: the industrial giant will launch the cryptocurrency index fund, Business Digit

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The crypto trading giant OKEx has become the latest giant ter the industry to launch an index-based cryptocurrency fund.

Announced this week and Tuesday, the product &ndash, called OK06ETT &ndash, will permit investors to invest ter a basket of six cryptocurrencies through a convenient fund, whose shares will be exchanged for other cryptoassets.

At launch, OK06ETT will include bitcoin (BTC), ethereum (ETH), bitcoin specie (BCH), EOS, like OKB &ndash, a utility token created by OKEx. The fund will trade against USDT, a dollar-denominated token issued by the Tether cryptocurrency startup.

Investors may also redeem the fund for the underlying assets, which prevents the price of its shares from being held back too much from the televisiekanaal asset value of the fund (NAV). The repayment of the USDT or the underlying will incur a toverfee of 0.2%.

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The publication of this cryptocurrency index fund comes a few days after Huobi, another Asian-based exchange technicus, unveiled an enormously similar product, which he described spil “the very first cryptocurrency ETF” ter the world. days after his resignation.

Like the Huobi ETF, OK06ETT will be open to individual investors eligible for trading on OKEx, and the ondergrens investment will be set at around $ 100.

Other cryptocurrency index funds, including those recently launched by Coinbase and Grayscale Investments, limit contributions to accredited investors. Thesis funds require significant ondergrens investments &ndash, $ 50,000 for Grayscale and $ 250,000 for Coinbase &ndash, but they can be kept te tax-efficient accounts. Eventually, thesis conventionally structured funds may be quoted on over-the-counter (OTC) brokerage platforms, which would permit retail investors to buy stocks, albeit thesis shares would likely trade. at a high premium on their televisiekanaal asset value.

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Te any case, the growth of this product niche indicates a shift ter crypto-currency investing the landscape towards broad ecosystem bets and far from speculating on individual cryptoassets.

Spil reported by CCN, the Circle Invest cryptocurrency brokerage application has recently launched a “Buy Market” feature, which permits users to lightly buy weighted positions te depending on the market capitalization of each asset. It would not be surprising to see other placement applications soon publish similar features.

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