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.
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