According to Yahoo Finance, a London-based startup named DLT Financial said it will launch a fund to track an index of the top ten cryptocurrencies on the market — one of them of course being Bitcoin.
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DLT Financial: New London-Based Cryptocurrency Index Fund
Recently rebranded from Tramonex, DLT Financial is a fintech company that aims to make virtual currencies an enticing asset class for investors.
The firm has received a 250,000 GBP ($333,000 USD) grant from the UK government to develop a working prototype of their proposed index. The fund will track 10 different cryptocurrencies including Bitcoin, Ether and Ripple.
Dave Askey, co-founder of DLT Financial and chief technology officer of Tramonex, stated during the announcement:
We’re really looking to bridge the gap between the existing blockchain world of tech and the more traditional institutional investment community.
Askey said currently it’s difficult to invest in these products without deep technical knowledge of how to manage and buy cryptocurrencies. “We want to bring (them) to the wider community,” Askey explained, and DLT Financial’s mission will be just that. It aims to provide the investment community a world-class index of emerging technologies.