OKEx launches new fund for cryptocurrencies. Here is what it is and what are the cryptocurrencies that compose it.
The exchange OKEx has announced that it has launched its new fund on cryptocurrencies, thus becoming the last major actor - in chronological order - to launch an instrument of this type.
The fund, known as OK06ETT, made its debut last Tuesday, allowing investors to take exposure to an index based on a basket of major cryptocurrencies. Next to Bitcoin Cash (BCH) and Bitcoin (BTC), the fund monitors the evolution of Ether (ETH) EOS and the OKE coin, OKB, which can be exchanged for Tether's USDT token.
As a fund traded on the exchange, investors will be able to secure diversified exposure to cryptocurrencies in general, instead of investing specifically in any of these currencies. Traders also have the option to redeem fund units for the underlying asset value, at a commission of 0,2%.
As anticipated, OK06ETT It is the last fund of this type to emerge from an important cryptocurrency exchange, and a few days later follows the launch of a similar product by OKEx's "regional" rival, Huobi.
According to the exchange, retail investors will be able to invest in the fund with a minimum financial effort of just $ 100, in stark contrast to similar offers from Coinbase and Grayscale Investments, where only accredited investors can buy shares, with thresholds of $ 250.000 and $ 50.000 respectively.
