Trading platform Huobi launches cryptocurrency exchange-traded Fund (ETF) that allows retail investors to access a basket of assets rather than to each individually.
On Friday, June 1, the company announced that the investment tool called HB10 available by subscription, which is only possible cryptocurrency.
According to representatives of Huobi, a new product based on the index Huobi 10, which was recently launched to track 10 different assets on the exchange Huobi Pro in real time on the basis of their market capitalization and liquidity.
The index uses a weighted sample to reflect the overall performance of the market on Huobi Pro. Tracking these data, Huobi proves that HB10 will help to diversify risks for retail investors, giving them access to the main cryptocurrency assets.
The company also added that, since the product will be available for institutional investors, it could potentially “reduce the impact of the institutional entry and exit from the market” courses on cryptocurrencies.
Meanwhile, a representative of the company noted that the new service will be available to investors from China, but not in the US, given the regulatory uncertainty in the country in respect of the ETF related to cryptocurrency.