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Zichain launches index funds for cryptocurrency investors

The crypto finance group said the Blue Coin Index Fund, as well as the Second Tier Index Fund, has already become available to a limited group of investors

Cryptocurrency
Tokens for the two funds have been created using the Ethereum blockchain platform

Zichain has launched two cryptocurrency index funds as the first part of a pipeline of products to simplify investment in digital assets.

The crypto finance group said the Blue Coin Index Fund (BCIF), which is focused on major cryptocurrencies, as well as the Second Tier Index Fund (STIF) had become available to a limited group of investors, with plans to sell to a broader market before the end of the third quarter.

WATCH: Zichain launches new crypto index funds and set to open new China office

Tokens for the two funds have been created using the Ethereum blockchain platform using its ERC 20 technical standard for smart contracts.

The firm added that the two funds, which would cover over 20 top cryptocurrencies between them, had all the features of traditional funds such as the use of real-time market data, performance calculations to track investments and advanced financial reporting, as well as new features including clustered storage with multiple signatures to guarantee asset safety and automated rebalancing and smart execution systems.

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Zichain launches new crypto index funds and set to open new China office

Crypto finance company Zichain has launched two cryptocurrency index funds as the first part of a pipeline of products to simplify investment in digital assets. Chief executive Khachatur Gukasyan says the Blue Coin Index Fund (BCIF), which is focused on major cryptocurrencies, as well as...

on 11/7/18

2 min read