Published on June 3rd, 2018 | by bitcoin0
Huobi Has Created It’s Own Cryptocurrency Exchange Trade Fund
Huobi, the Singapore-headquartered cryptocurrency exchange, has decided to create its own ETF style instrument based on its recently launched index of ten digital assets.
It is also meant to attract more institutional investors, by reducing the impact of institutional entry and exit on a single coin.
Huobi only announced launch of the benchmark index less than two weeks ago, explaining at the time it is meant to reflect the market performance of Huobi Pro in terms of USDT.
$93 Million Crypto VC Fund
It was also revealed on Friday that Huobi has joined forces with Chinese VC New Margin Capital and Korean online brokerage Kiwoom Securities to jointly launch a 100 billion won ($93 million) investment fund.
And Mirae Asset Financial Group, an independent financial services group headquartered in Seoul, is also joining the fund as an investor.