Cryptocurrency exchange OKEx, one of the largest in the world, announced the launch of cryptocurrency index Fund.
A product called OK06ETT will provide customers the opportunity to invest in a basket of 6 cryptocurrency via the Fund, whose shares will be traded on the exchange against other scriptaction.
When you start OK06ETT will include bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS, and OKB — own token OKEx. The Fund will trade against the Tether (USDT) — token, the value of which is pegged to the U.S. dollar.
Investors can buy the Fund for the underlying assets, that will not allow the price of its shares, too far to deviate from the net asset value (NAV). Repayment will be possible either USDT or in the underlying assets.
OKEx announced the launch of its index Fund a few days after a very similar product introduced another major crypto currency exchange — Huobi. A Singaporean company called your HB10 “ITF the first cryptocurrency in the world.”
As the Fund HB10 Huobi, running OKEx OK06ETT minimum investment set at $100, making them accessible to retail investors.
Recall that recently Huobi hired the former head OKEx Chris Lee (Chris Lee) as Vice President of global business development.