India’s first global crypto index, dubbed IC15, will start trading on Bitbns exchange starting the first week of April. IC15 was launched in January by CryptoWire, to track the performance of the 15 most traded cryptocurrencies in the world. CryptoWire is a special business unit (SBU) of the crypto statistics provider TickerPlant. This development will allow crypto investors to monitor the entire market instead of focusing on just one asset. The risks related to liquidity will also be minimized by trading on the index.
Indicator IC15 The transaction will put India on the global crypto map. Index prices will be visible globally and will allow the industry to track market movements.
The IC15 index on Bitbns is also expected to expand product offerings through Exchange Traded Funds (ETFs) and other wealth management products to benefit from arbitrage.
ETFs are financial products that regulate and track the price movements of an underlying asset. ETFs offer people an alternative to extracting profits from an asset’s price trend without actually owning even a single unit of that asset.
“This arrangement is similar to trading the S&P-Dow Jones equity indices and the Financial Times Stock Exchange (FTSE) or ETF products that trade on the stock exchange. New York Stock Exchange (NYSE)Chicago Mercantile Exchange (CME), Nasdaq and London Stock Exchange,” CryptoWire said in a press release.
Licensed arrangement by CryptoWire will require royalty payments to cover and support crypto-focused research and development work. These payments will include a mix of fixed and revenue-dependent variable fees.
“Participants will find the IC15 index offers much greater institutional use through ETFs and alternative wealth management products,” said Joseph Massey, CEO and CEO, CryptoWire. know.
Approximately four million Bitbns exchange users will receive benefits from trading on IC15.
“The index will also display the market price impacts of various news and policy decisions made globally,” said Bitbns Founder and CEO Gaurav Dahake.
The management committee of the IC15 index includes experts in the field, industry practitioners, as well as academics. They will maintain, monitor and manage the index while rebalancing it quarterly.
To qualify for this list, electronic money needs to be traded for at least 90 percent of the trading days during the review period and must be in the top 50 in terms of market capitalization in circulation for the previous month among other criteria.
As of March 1, 2022, BitcoinXRP, Terraand Cardano are the top four crypto assets on the IC15 index.
Cryptocurrency is an unregulated digital currency that is not a legal tender and is subject to market risk. The information provided in the article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV will not be liable for any loss arising from any investment based on any recommendations, forecasts or any other information contained in the article.
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