ITI Funds, a buy-side intermediary, advisory and asset management business, has launched the ITI Funds Crypto Index Fund, based on the ITI Funds Crypto Index (ITIFC), an index administered by MV Index Solutions (MVIS).
The fund, which aims to give institutional investors access to the crypto market, complements the income and fixed income funds already launched by ITI Funds. It invests in cryptocurrencies from among the 30 most-capitalised crypto assets, including Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, ZCash, Stellar, and Ethereum Classic. To be included in the index’s investment universe, the assets must comply with a list of strict rules: admittance to listing on recognised and licensed exchanges, eligibility for insured cold storage and underlying liquidity.
A strict component capping of 15 per cent applied to each index component on a quarterly basis ensures a broad diversification.
“We did that intentionally to make sure other coins rather than Bitcoin can breathe and you can enjoy their growth,” says Marat Krimskiy, project manager at ITI Funds. “If you expect the crypto space to continue its bullish trend, then now may be the right time to invest.”
Thomas Kettner, Managing Director of MVIS, adds: “We are very delighted about the launch. ITI launched the first crypto product in the European Union based on an index maintained by MVIS, after other jurisdictions are already covered.”
Source: Institutional Asset Manager