Huobi Is Launching a Cryptocurrency Exchange-Traded Fund

Huobi Is Launching a Cryptocurrency Exchange-Traded Fund

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Cryptocurrency trading platform Huobi is launching a crypto-based exchange-traded fund (ETF), an investment option that will allow retail investors to gain exposure to a basket of assets instead of just one at a time.

The company said in an announcement on Friday that the investment instrument – called HB10 – is now open for subscriptions, though it only accepts purchases using cryptocurrencies instead of fiat currencies.

According to the firm, the new product will replicate the Huobi 10 index, which was recently launched to track 10 different assets on the Huobi Pro exchange in real time, based on their market capitalization and liquidity.

As previously gerapporteerd door CoinDesk, the index uses weighted samples to reflect the overall market performance on Huobi Pro. By tracking that data, Huobi touts that HB10 will help to diversify risks for retail investors while giving them exposure to major cryptocurrency assets.

The company further added that since the artikel will also be available for institutional investors, it could potentiallyreduce the impact of institutional entry and exiton single cryptocurrencies.

Ondertussen, a company representative told CoinDesk that the new offering will have similar restrictions as Huobi Pro. Bijvoorbeeld, while it will still be available for investors from China, the new service notably excludes those from the U.S., given regulatory uncertainty over cryptocurrency-related ETFs in the country.

Market index beeld via Shutterstock

De leider in blockchain nieuws, CoinDesk is een media-stopcontact dat streeft naar de hoogste journalistieke normen en houdt zich aan een strikte redactionele beleid. CoinDesk is een zelfstandig opererende dochteronderneming van Digital Currency Group, dat belegt in cryptocurrencies en blockchain starters.

https://www.coindesk.com/huobi-launching-cryptocurrency-exchange-traded-fund/

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