Huobi Exchange Launches Investment Product Based on Its New Index
Cryptocurrency exchange Huobi announced the launch of a cryptocurrency index fund (ETF), an investment product that will allow individual investors to invest their money in a basket of assets formed by the company..
According to Huobi, the investment vehicle HB10 is already available for subscription, however, it only accepts deposits in cryptocurrencies and does not accept fiat currencies..
The new product will be based on the recently announced Huobi 10 Index, which tracks in real time the movements of 10 different digital assets traded on the Huobi exchange and included in the index basket according to their capitalization and purpose..
The index uses a weighted sample of cryptocurrencies, which, according to Huobi’s idea, will allow monitoring the behavior of the segment as a whole. Such a system is supposed to help individual investors diversify their risks while at the same time giving them the opportunity to work with the largest digital assets..
The company also notes that since the product will be available to institutional investors, it could “reduce the impact of entry and exit of such investors” in individual cryptocurrency markets..
As noted by CoinDesk, the index fund will use the same rules as other Huobi products. For example, it will be available to investors in China, but not available to US users due to regulatory uncertainty over US crypto ETFs..
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