Boston based Circle internet financial ltd, have unveiled “Buy the market”, a tool that will enable investors to buy up to seven digital assets at once. This move makes investing so much easier since all an investor has to do is set up a crypto-currency portfolio on the app and input the amount of money in dollars they would like to invest. The app will automatically distribute the invested sum on each asset depending on their market cap.
The “Buy the market “ tool works almost like an ETF enabling investors to purchase a mix of assets consisting of some Bit-coin(BTC), Ethereum (ETH), Bit-coin cash (BCH), Lite coin (LTC), Ethereum classic (ETC), Monero (XMR), and Zcash (ZEC). This move by Circle is not the first of its kind though. Several firms such as Bitwise asset management, Coin base, and Gray-scale have also put in place similar offerings in the way of Crypto-currency index funds.
Circle, however, offers zero extra costs in order to stand out from these other rival offerings. Circle has also risen above the competition since their “Buy the market” feature allows people to invest as little as 1 dollar while other crypto-currency index funds require large minimum contributions as a start.
Not only have Circle been able to offer this Crypto index fund type of product at low minimums and zero management fees, they have also opened up investing to a larger base. They have done this by eliminating the need to be an accredited investor in order to access crypto assets. A normal crypto index fund from other firms would require you to be an accredited investor with at least a million dollars to spare before you can start trading.
This move by Circle will definitely offer a unique experience to investors as professed by Circle’s Rachel Mayer. To become a rich investor with a lot of money, you must start off as a humble investor with very little money. Circle definitely understands this since their move will open up investing in digital currencies to not only small investors but also to total newbies. The future looks even brighter with Circle announcing plans to invest a whopping 110 million dollars in raised funds on developing and rolling out new offers.
The ability to invest little sums of money through Circle’s “Buy the market” will not only boost the firm’s customer base but also lead to a spike in crypto-currency interest. People are always on the lookout for great investment opportunities and this product by Circle is definitely one such opportunity. Offerings like this will also help sanitize the crypto space from overly negative sentiment.