Huge US Banking Firm Launch Bitcoin Collections
It was announced today that three new collections of index were launched for digital currencies, according to Circle Invest.
Senior Vice President at Circle Divya Agarwalla, posted on the companies blog that âbuy market featureâ was very successful and that more than 30%of our users were taking advantage of it according to CCN. Circle released this feature in May in order for customers to purchase cap-weighted positions in the asset listed on the platform.
The three new collections will contain an index of coins dependent on what their main goals are out of: payments, privacy and platforms. Some crypto fanatics might take an issue with the widespread categories and see them intertwining.
âCrypto is complicated. Many projects aim to solve similar real-world problems but take vastly different approaches to get there.â
She continues to say:
âProjects like Bitcoin, Bitcoin Cash, Stellar, and Litecoin are trying to build superior payment rails based on blockchain technology so that making payments is as easy, instant, and as borderless as sending an email. If customers are passionate about this category of assets and want to invest, they can simply buy the Payments collection. Each of the assets in the collection will be weighted by market cap. Customers will also be able to educate themselves on the collections through our in-product content.â
You can now purchase collections which are available in the Circles Invest latest updates of the Android and iOS apps.
Digital currency index funds have received attention as huge wallet providers and major exchanges release the feature and outdo each other. This isnât necessarily surprising as the success had been good for low-fee index funds in the equities market.
For example, Coinbase has recently released its own version of a collection fund for retail investors on 28th September and has named them âbundlesâ. CCN reported the said bundle is a market cap weight for the five digital currencies list on Coinbase (Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash and Bitcoin). Itâs worth saying that it has quite a low minimum deposit of only $25.
The active digital currency index fund, Bitwise has filed their own ETF with the SEC dubbed as Bitwise10. This fund would include the 10 top largest digital currencies by market capitalisation.
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