OKEx Global Cryptocurrency Exchange to Launch Crypto Index Fund

OKEx, the crypto trading giant has become the latest cryptocurrency exchange to launch its own index fund. The opening is on Tuesday, June 5, where the new index fund “OK06ETT” will allow investors to invest in up to 6 cryptocurrencies which they can trade on the exchange against other crypto assets.

During the launch, OK06ETT investors will be allowed to trade Bitcoin (BTC), Ethereum (ETH),  EOS, Bitcoin Cash (BCH) and OKB which is a token created directly from the OKEx exchange.

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Each of the funds will trade against Tether (USDT) , which is the dollar pegged stablecoin (more on stablecoins here). This exchange will be open to retail investors with a minimum investment that to approximately $100.

The release of the cryptocurrency index fund comes days after its other Asian based exchange Huobi announced that they would be releasing the world’s first cryptocurrency ETF. Huobi also recently acquired the former OKEx CEO Chris Lee several days after his resignation.

In related news, the recently launched cryptocurrency index fund by Coinbase restricted investors with a larger minimum investment requirement at $250,000. The growth of the “index fund” niche indicates a shift within the crypto investing landscape. This allows more betting wages within the crypto ecosystem and less speculative investing into individual crypto assets.

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