With the news of IronChain Capital, announcing the launch of two innovative mutual fund-like cryptocurrency index funds: IronChain MiX10 and IronChain MiX10 Institutional, cryptocurrencies like Bitcoin, Ethereum, Ripple may get a boost. According to a press release by IronChain Capital,
“Both Funds will track the MiX10 Index, a market cap weighted index that tracks up to the 10 largest cryptocurrencies,”
It will help address multiple barriers to investing in major cryptocurrencies as the funds offer daily liquidity, broad diversification and institutional-grade security and custody for only a 1% management fee. IronChain will waive the management fee for one year for investors that set up an account by June 30, 2018.
Accredited investors and qualified purchasers can directly invest in the Funds in USD, Bitcoin and Ether on a daily basis through IronChain’s website, providing for an efficient process and intuitive investing experience. The Funds benefit from a hybrid liquidity pool that combines exchange aggregation and OTC desks. The Firm also leverages its network of custodians and technology partners, including Kingdom Trust, Ledger and Xapo, to provide investors with best-in-class asset security.
MEDIA Protocol CEO, James Tabor said
“This approach will make crypto more accessible to new investors, and any influx of money is good for the wider market.”
Jonathan Benassaya, CEO and Founder of IronChain said,
“The disruptive nature of cryptocurrencies and the blockchain technologies at a global level is real, but poses an important challenge for investors to obtain exposure. Our mission is to build the first full-service investment platform dedicated to cryptocurrencies that provides easy access to the most liquid digital currencies. We believe our first two Funds will be a game changer in helping to further institutionalize the digital asset industry.”
Eiland Glover, CEO of Kowala, an autonomously stabilized cryptocurrency is also positive on the introduction of index ...
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