Circle Invest paves the way for buying the crypto market 9764
Bitcoin News
Ashmita Dutta
May 23, 2018 at 5:42 PM

Circle Invest, the crypto broker, has kept crypto index funds at its target by featuring the newly designed “Buy the Market.” Circle facilitates transaction of crypto assets in the domain of digital market. The specific feature provides the retail investors with opportunity to buy market cap based positions. These positions of the assets are enlisted on platform.

The efficacy of the investing app is supplemented by this new feature. With the help of this feature, the investors get an idea about the amount they are willing to invest. Once the decision is taken, the amount is automatically distributed among all the cryptocurrencies. These virtual currencies are held by the platform as per the market cap of each coin in circulation.

Presently, the cryptocurrencies supported by Citcle Invest include bitcoins (BTC), ether (ETH), litecoin (LTC), bitcoin cash (BCH), ethereum classic (ETH), zcash (ZEC) and monero (XMR).

The marketing strategy undertaken by Circle is the elimination of additional charges for providing the service. It would serve as a suitable substitute with low cost due to the rising of cryptocurrency index funds. Investors, in this case, receive nearly identical products with supplemented functionalities.

Cryptocurrency index funds have been launched by a number of funds including Coinbase, Bitwise Asset Management and Grayscale. These funds have been launched recently to expose the investors to a wider spectrum of cryptocurrencies with larger market cap.

Currently, the funds are restrained to a small group of individuals who can afford a significant amount as an initial contribution. This group comprises accredited investors whose management fee is nearly three percent per annum.

It is reported that in the recent times, Circle has raised an amount of $110 million in a round of Series E funding. Bitmain, the popular bitcoin mining maker led this round allotting a firm, backed by Goldman Sachs, a valuation of $3 billion.

(Image source: Google)

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