Cryptocurrency trading platform Huobi is pushing forward with its aggressive expansion into new regions — and new products as well.
Today, June 1, 2018, the Singapore-based exchange launched a crypto-based exchange traded fund (ETF), a diversified portfolio that allows traders to invest in a basket of cryptocurrencies all at once.
According to the company’s announcement, the fund, Huobi 10 (HB10), will replicate the Huobi 10 index, which Huobi revealed last month. The Huobi 10 index is designed to track the top 10 virtual currencies or those with largest market value and most liquidity. According to Huobi, the fund is currently open for subscriptions with some limitations.