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.