OKEx announces crypto investment fund

Posted 05 June, 2018

OKEx, one of the major crypto trading platforms, has reportedly announced a crypto index fund.

The new project OK06ETT will allow users make investments into six cryptocurrencies basket via the fund, with its shares being traded against USDT on the platform, according to CCN media.

"At launch, OK06ETT will include bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), EOS, as OKB — a utility token created by OKEx. The fund will trade against USDT, a dollar-pegged token issued by cryptocurrency startup Tether," said CCN's report. 

According to the available information, investors will be able to acquire the fund for USDT or base assets, which will prevent its rate from trending away from the net asset price.

It is worth mentioning that OKEx reportedly launched the fund just a few days after similar step by Huobi exchange. At the same time, the latter called its project HB10  as the first ETF in the world. The OK06ETT has the minimal investment amount at $100, so retail traders can also use OKEx product. 

Notably, other investment funds, particularly run by Coinbase and Grayscale, have set much bigger minimum amount at some $250,000 and $50,000 respectively.

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05 June, 2018 13:40

← New York authorities about to set up crypto working team

The authorities of the New York state are considering setting up of the special working unit for studying effects of the cryptocurrency appearance in the financial markets.The banks' committee of the state legislature has already supported this initiative. The new unit will consist of nine members and be focused on checking the influence of the cryptos on the financial system...

New York authorities about to set up crypto working team

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05 June, 2018 11:02

US dollar changes slightly at Asian session →

The American currency has shown almost no changes at the Asian session, staying at some 94. At the same time, the Australian counterpart remained downward directed on the interest rate decision of the Reserve Bank of Australia. The yen decreased affected by weak household spending data in the country. The US Dollar Index stayed above the 94 at some 94.06 for now. The rate peaked last Wednesday at 94.93 and managed to stay close to 94 since then.

US dollar changes slightly at Asian session
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