News and Announcements
CRYPTO20 Reaches Minimum Fund Cap Within Hours of Pre-Sale
- Published October 20, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- CRYPTO20 has attained their minimum fund cap after only hours of the pre-sale inauguration on 7 October 2017.
- The autonomous crypto index fund aims at presenting peace-of-mind cryptocurrency investment to the mainstream investors.
- A total of $5 million funds have been raised by the end of the CRYPTO20.
CRYPTO20, popular as the autonomous crypto index fund, which tracks the leading 20 cryptocurrencies, stated that they had attained their minimum fund cap after only hours of the pre-sale inauguration on 7 October 2017.
The goal of CRYPTO20 is to present peace-of-mind cryptocurrency investment to the mainstream investors. It maintains and autonomously rebalances a portfolio of the leading 20 cryptocurrencies proven by data science.
The actively managed funds have failed continuously to overcome the market index in spite of the billions of dollars, decades worth of data and hundreds of analysts within their reach. In cases where they have managed to overcome the market index, their fees have diluted the investor returns.
Because of the increasing crypto prices, the value of fund per each token surpassed the price of tokens under sale making the pre-sale investors capable of acquiring $1.10 of the underlying crypto assets for a price of $0.95 per token.
A total of $5 million funds has been raised by the end of the CRYPTO20 with over 2000 bankers coming from 93 countries participating. The main ICO commences on 16th October 2017 at 18:00 GMT and closes on 30th November at 00:00 GMT.
C20, the fund’s token, represents the share of the fund of an investor with the value of the fund being the same as that of the combined value of the assets. Unlike several other offerings available in the marketplace currently, CRYPTO20 is not a platform but rather a finished product.
CRYPTO20 has issued insights and trading tools that are created live from the eight exchanges that are appended to the system through API. These trading tools include information on the best price, slippage, the volume by exchange and the trading pair to obtain assets with.
The token-holders are allowed to liquidate the C20 token meant for their underlying assets share through the smart contract. CRYPTO20 offers investors the capacity to sell or exchange the tokens they have at will by going straight to the end-user. The fund works as a registered LLC in the Cayman Islands and is wholly AML/KYC compliant.
The CRYPTO20 fund alleviates the volatility and risk and has offered better returns than bitcoin.
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