Huobi Pro, the third largest crypto exchange in the world, announced the subscription phase for its own ETF traded fund, called HB10. According to the launch post:
This index product is designed to fully replicate the HUOBI 10 Index and will be rebalanced based on the constituent coin trading pairs and their weight changes. Being first to market, HB10 offers interchangeability with other digital assets hosted by Huobi Pro. HB10 will help users attain exposure to the digital assets market with a relatively small capital outlay and also provide users with greater diversification across constituent coin trading pairs.
This "index tracker", as it's called, is basically a basket of multiple currencies, treated as a whole digital product and fungible inside the Huobi Pro exchange.
It's worth noting that ETFs are still under scrutiny in US, the Winklevoss brothers being probably the most famous supporters of this product, yet to see any clearance from SEC.
HB10 will have entry points as low as $100 and as high as $10 million and it's going live today from 10:00 AM UTC+8.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
Wanna know when you're getting paid?
|
I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
I can’t wait for the news on EOS as well
Though Houbi is a very know exchange but won't the concept of cryptos popping up every here and there affect the market and bring us back to to conventional currencies?
I dont think it will "Bring us back"
Conventional currencies are in a state of balance - Creating more money is "good" for a country's export, but "bad" for citizens who can then afford less.
TOTALLY different balance of supply and demand in crypto. The scarcity in crypto is totally different, no matter how many cryptoetf:s ...
In my humble opinion..
Most awaited news in the week and finally the wait is over .
Your post is always different i follow your blog everytime , your post is so helpful . I always inspire of your post on my steem work . Thank you for sharing @dragosroua
Keep good work of every time ...
Most awaited news of the week after your previous post, hopefully ETF will do.good.
Finally the wait is over!
ETF is going to.rock.
Huobi is trying really hard which is great this can become No 2 in no time :D
Thanks for your update news..
postingan yang luar biasa ,, akan saya akan segera menggunakan @dragosroua
great post ,, i will soon be using @dragosroua
It's great to see a new crypto currency in the market.
I hope ETF will flourish.
Thanks for the info:) Houbi10-index... hmm.. I need to read more about this.
Keep it up!
If it's an exchange traded fund - which exchange?? Singapore? Not Amex or Nyse, right? Looking forward to learn more about this.
Is it a synthetic ETF or are the underlying assets actually bought on the market?