via Abra.com
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Abra, an all-in-one cryptocurrency wallet and trading platform, announced this week that it has launched a new index that is accessible to retail investors via their mobile devices.

The Bitwise 10 Crypto Index (BIT10) allows Abra users to gain exposure to around 85% of the entire crypto market with a single investment vehicle. The BIT10 is a market-weighted derivative product that tracks the combined price action of top coins, including Bitcoin (BTC), Ethereum (ETH), XRP (XRP) and EOS (EOS).

According to the launch page, Bitwise will be responsible for managing the index, which includes conducting a monthly rebalance to keep the constituents current. Investors can purchase the BIT10 with no restrictions on buying windows or transaction frequency. There are no fees, but Abra does require a $5 minimum investment.

Similar to other investment options on Abra, the BIT10 index is not backed by physical assets, giving the company the ability to side-step accredited investor laws and offer the product to retail investors.

More: World’s first crypto index accessible to everyone, everywhere
Similar: AltDex — Cryptocurrency Benchmark Indices

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Robinhood