Huobi launches new product, crypto-based ETF

02 Jun, 2019
by Fifi Arisandi
Exchange
Huobi launches new product, crypto-based ETF

Singapore-based crypto exchange, Huobi launches a crypto-based ETF product to all Huobi Pro users. 

Huobi enters the month of June with a new product, a cryptocurrency-based exchange trade funded (ETF).

The fund, namely Huobi 10 (HB10) will replicate the Huobi 10 index, which is designed to track the top 10 cryptos, as reported by Bitcoin Magazine.

The subscription is currently open to all Huobi Pro users, except those reside in the US, with some limitations applied. For example, they can only purchase HB10 with cryptos, such as Bitcoin, Ethereum, Tether or Huobi token.

Subscribers will also be charged a certain fee based on their amount of investment. In more details, 100 – 500,000 USDT amount is charged 0.1%, 500,000 – 1 million USDT is 0.05%, while 1 million – 10 million USDT will not be charged anything.

It’s been a busy yet pretty exciting week for the Singapore-based exchange. Just a couple of hours ago, the CEO, Livio Weng just made a statement denying the washtrading practices on his exchange as claimed by Bitwise Asset Management Report.

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