London-based investing app Invstr announced a new cryptocurrency index that includes a range of digital assets, utility and payments tokens, according to a press release published by the company.
The index will be available for free to Invstr app users who will be able to compare index performance with specific cryptocurrencies. It comprises 18 cryptocurrencies with their weights being calculated by the market volatility of each crypto.
The index will be adjusted quarterly by experts and index managers who will add new and stable crypto assets, and at the same time, remove suspended or distorted cryptocurrencies. They will also rebalance the index every three months.
“Retail investors want to know whether they should be invested in cryptocurrencies and what the impact of that investment will be on their portfolios,” rather than what impact you will have on the market when entering or exiting as a large funds manager wants to know. Invstr CEO Kerin Derhalli said. “The Invstr Crypto Index addresses this by using weightings that optimise risk-reward based on the volatility of the constituent assets”.
Invstr index is made up of Bitcoin, Bitcoin Cash, Bitcoin Gold, EOS, Dash, Ethereum, Ethereum Classic, IOTA, Litecoin, Neo, Monero, NEM, OmiseGo, Qtum, Ripple, TenX, Verge, and Zcash.
Invstr is partnered with United States regulated member of FINRA/SIPC broker DriveWealth, so the company is covered on the purpose of US-traded securities exchange with fractional trading.
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