Intended to pursue retail players, cryptocurrency asset management platform Mudrex has introduced ‘coin sets’ enabling investors to invest in a number of mutual-fund-style cryptocurrency products.
It is the first that such a product has been introduced for retail investors. Such investment products were previously available but accessible only to institutional investors and HNIs.
Nexus VP and Y Combinator-backed Mudrex is endeavoring to ease cryptocurrency investment by creating an easy-to-use product for smaller investors.
Coin Sets are the basket of cryptocurrency tokens. It will be based on a specific theme. Investors believe this idea can slowly play on it, growing wealth in the long run.
The coin sets are managed and created by experts from the Mudrex team. The team will look after fund allocation, order execution, weightage and periodic rebalancing.
For example, the coin set of ‘NFT’ will be a basket of the top NFT projects. Similarly, the coin set named ‘DeFi 10’ will include the top 10 DeFi (Decentralized Finance).
The product will aid investors to control possible risk by expanding their portfolios into different cryptos and gain above-average returns.
Co-founder and CEO of Mudrex, Edul Patel said that the platform is aiming to bring ease and streamline investing in cryptocurrency for new investors. Coin Sets is a product that will enable investors to reduce risks by expanding investment in cryptos.