CoinJar gifts investors the jar of first cryptocurrency index fund in Australia
CoinJar, a leading cryptocurrency exchange in Australia, has introduced the country’s very first cryptocurrency index fund. CoinJar Digital Currency Fund, as it has been named, is “Australia’s first index-style cryptocurrency fund for wholesale investors”.
The announcement came through CoinJar on 2nd August. The exchange made the announcement on Twitter, where they also explained what the fund is: “Today we launched the CoinJar Digital Currency Fund, an index-style cryptocurrency fund for wholesale investors to access digital currency markets.”
Today we launched the CoinJar Digital Currency Fund, an index-style cryptocurrency fund for wholesale investors to access digital currency markets. https://t.co/VMDpn5Q2bG
— CoinJar (@GetCoinJar) August 1, 2018
How will the fund help the wholesale cryptocurrency investors?
CoinJar Digital Currency Fund is divided into two classes - Bitcoin Class and Mixed Class. The classes ensures that the wholesale investors have "a convenient way to invest with Australian Dollars, which may provide diversification to traditional asset classes". While Bitcoin Class offers exposure is restricted only to Bitcoin (BTC), Mixed Class, covers four cryptocurrencies and tracks the "performance" of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).
Staying ahead of competitors in Australia
The introduction of the fund followed the unveiling of CoinJar Exchange, the fastest cryptocurrency trading exchange in the country. The launch of both the products in such a short span of time indicates that the company venturing for its rapid expansion in the Australian market. The launches will help CoinJar to stay afloat and be ahead of the other competitors in the crypto market of Australia.
The facts that investors will be able to trade cryptocurrencies against the Australian Dollar (AUD) without any hassle and will the wholesale investors will be able to hold the reins of their trade in a much advanced manner; are also win-win factors for them.
Image via Shutterstock
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