Huobi Exchange to Create ETF for 10 Cryptocurrencies
June 4, 2018
One of the world’s leading crypto exchanges, Singapore-based Huobi that is ranked third by daily trade volume, has declared creating its own crypto fund so that investors will be able to put up money into several digital assets at once.
The HB10 fund is already available, yet so far it accepts only cryptocurrencies. HB10 works with the same currencies included into Huobi 10 index launched last week: BTC, ETH, BCH, XRP, LTC, EOS, DASH, ETC, HT and IOST. Huobi 10 is tracing cryptocurrencies real time taking account of their market cap and liquidity.
HB10 will allow for private investors to distribute their risks while granting access to investing into the largest cryptocurrencies. As to Huobi, the product will be available for institutional investors as well. The company plans HB10 is going to “reduce the impact of institutional entry and exit”.
Remember that lately Huobi succeeds in business. For instance, the exchange has got official registration on the US territory, voiced its plans to open office in London and lured away the ex-head of OKEx.