The crypto industry is said to benefit from two new cryptocurrency index funds. This follows an announcement by IronChain Capital. More institutional money for crypto industry is great news!
In addition, it is expected that several major cryptocurrencies such as Bitcoin, Ripple and Ethereum will benefit the most from this news.
Incoming institutional money for crypto industry
The two new crypto index funds are IronChain MiX10 Institutional and IronChain MiX10. In the statement, it is said that the funds will track the MiX10 Index. Also, this is a market cap weighted index.
Meanwhile CEO and Founder of IronChain, Jonathan Benassaya said several investors find it complicated to invest in cryptos. He explained that there are four main barriers that investors take into account – liquidity, fees, diversification and custody. However, the two new funds hope to be the solution by offering investors no lockup and an annual fee of 1%.
For a long time, investors have been speculating how the market would react when institutional money comes to the party. One can say it is highly anticipated by a lot of investors. Hence it ignites the hope that the market will explode and make crypto prices reach new heights.
What do industry leaders say?
Bitmart CEO, Jacques Serfontein agrees. He said investors can expect great things for cryptos with new institutional money entering the crypto realm. These funds are backed by prominent leaders in their respective fields.
“Giving more investors access to digital assets will pave the way for institutionalized funding and investment. They can then enter the global crypto market through trusted channels and sources. This will be great for investors,” said Serfontein.
Furthermore, the news of the two new cryptocurrency index funds follows Wall Street’s announcement a couple of months ago. Wall Street announced they would be introducing Bitcoin Futures to address a number of similar issues. One being market volatility. The aim is to make cryptos more acceptable amongst merchants to be used as an exchange medium.