This is the first time such a product has been launched for retail investors. Such investment products were earlier available but only to HNIs and institutional investors.
Y Combinator and Nexus VP-backed Mudrex are trying to make crypto investing easier by creating an easy-to-use product for small investors.
coin set basket crypto token, which will be based on a particular theme and investors believe that the idea may go slowly on it, growing wealth in the long run.
For example, a token set called ‘DeFi 10’ would include the top 10 DeFi (decentralized finance) tokens. Similarly, the coin set of ‘NFT’ will be a group of top NFT projects.
Coin sets are created and managed by experts from the Mudrex team. The team will take care of fund allocation, weighting, order execution and periodic rebalancing.
The product will help investors manage potential risks by diversifying their portfolios across different cryptocurrencies and achieving above-average returns.
Edul Patel, CEO and co-founder of Mudrex, said that the platform is looking to make investing in crypto easier and simpler for new investors. Coin Set is a product that will allow investors to reduce risks by diversifying investing in cryptocurrencies.
“It is a mutual fund-like product with a superior risk-reward ratio, suitably curated for investors who view crypto investing as a long-term wealth creation option. The product is designed to promote retail participation in crypto. likely,” he said.
With assets under management of over $15 million, Mudrex recently raised $2.5 million in funding from Nexus Venture Partners, Village Global, Kunal Shah and others. Launched in 2018, Mudrex has a user base in 90 countries.