Bitcoin: London start-up to launch an index of cryptocurrencies

DLT Financial &Tramonex, a London-based start-up said they would launch the first fund to track an index of digital currencies such as bitcoin in the coming weeks. The project could open up the market and simplifying access to this particular type of asset, breaking the wall that still separates many people from understanding what are the bitcoins and how they work.

The new company was spun out of fintech start-up Tramonex, which earlier this year received a £250,000 pound grant from the government to develop a new prototype for currency settlements using the technology that underpins bitcoin.

The new index will include 10 cryptocurrency: Bitcoin, Ethereum, Ripple, Stellar, Litecoin, Dogecoin, MadeSafeCoin, NameCoin, Factom and NXT. 

Dave Askey, co-founder of DLT Financial and the chief technology officer of Tramonex, told the Reuters news agency: “We’re really looking to bridge the gap between the existing blockchain world of tech and the more traditional institutional investment community. Currently it’s really very hard to invest in these assets as a pretty deep technical knowledge is needed to buy and manage them. We want to bring (them) to the wider community.”

One of the obstacles to the growth of cryptocurrency is lacking spread and the over-the distance that separates the common investor, and this project focus on a possible solution.

What do you think about this article? Leave your point of view on Facebook