Huobi, the world’s third largest digital currency exchange out of Singapore, announced they will launch a crypto-based exchange-traded fund (ETF) and index.
The Huobi Main Force Index has been specifically designed to track the ten major Digital assets pegged to Tether (USDT), a dollar-backed cryptocurrency. According to Huobi's official press release, the ten-currency index will “reflect the overall performance of the Huobi Pro market,” and provide investors with a single point of reference.
With the new index in place—which uses samples to reflect the overall market performance on Huobi Pro—and by tracking that data, Huobi believes HB10 will help diversify risks for retail investors while giving them exposure to major cryptocurrency assets. In addition to the index, Huobi also announced its new exchange-traded fund (ETF) which provides investment options permitting greater exposure of retail investors to spectrum of assets.