Two index funds will be launched in the form of crypto tokens
The tokens linked to S&P index funds will be traded in the US for the first time
16.12.2021 - 09:30
210
1 min
0
.
What’s new? Securitize, a provider of security token issuance technologies announced on its blog that it has partnered with the leading index provider S&P Dow Jones Indices. Securitize will launch two tokenized funds that will be linked to the S&P Cryptocurrency Large Cap and S&P Kensho New Economies indices.
How will the tokens work? The new products will be sold through the digital asset management service, Securitize Capital. Only accredited investors will be able to purchase them. Securitize stated that it uses the Algorithand blockchain with a Proof-of-Stake algorithm. This is the first time that fully regulated investment products based on the index funds are offered as tokens.
How did Securitize's CEO comment on the launch? Scott Harrigan, CEO of Securitize, believes that this development will accelerate the implementation of the blockchain system in the index funds. Harrigan stated:
“S&P DJI’s innovation and leadership in tokenizing its indices is a major sign that institutions understand the many advantages of tokenization — from efficiency to easier investor access. I anticipate will be the start of a wave of tokenized funds over the coming months.”
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024