Circle Takes on Coinbase and Abra With New Themed Crypto Index Products
Circle Invest, the retail cryptocurrency trading platform of Circle, announced today that it has launched new investment products called “Collections” that allow users to invest in mini cryptocurrency indices that are sorted by asset function.
— Circle Invest (@circleinvest) October 4, 2018
According to the announcement, Circle has launched three market cap-weighted Collections, including Platforms, Payments and Privacy, that are now available for investment. The new feature builds off of Circle’s original “Buy the Market” option, which enables investors to automatically diversify their holdings across multiple digital currencies with a single click of a button.
Given that Circle only supports 11 digital currencies, the Collections are fairly basic. The Payments Collection includes Bitcoin (BTC), Bitcoin Cash (BCH), Stellar (XLM) and Litecoin (LTC) while the Privacy collection holds only Monero (XMR) and Zcash (ZEC) — see a larger index here: AltDex Privacy Coin Index.
The release of Circle’s Collections comes just a day after Abra, an all-in-one cryptocurrency wallet and trading platform, unveiled the Bitwise 10 Crypto Index (BIT10), allowing Abra users to gain exposure to around 85% of the entire crypto market with a single investment vehicle.
Given that simplicity is the name of the game when it comes to crypto mass adoption, the competing retail-focused investment platforms will likely continue to roll out barrier-lowering features.
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.