Bitpanda unveils real crypto index for investors

Bitpanda is launching its crypto index, aiming to make it simpler for investors and traders to trade complex crypto products.

By · Oct 9, 2020 . 6min read

Bitpanda crypto index latest news
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Vienna-based cryptocurrency retail broker Bitpanda has declared the launch of the world’s first real crypto index. It intends to make it as smooth as possible for its consumers to fund in several baskets of digital assets. Moreover, the Bitpanda crypto index (BCI) strives at simplifying the buying and trading of crypto assets. Thus, enabling traders to purchase various cryptocurrencies with a single click.

Today we announced the first real crypto index. What does “real” mean? Every BCI is completely asset-backed, which means that the underlying assets are purchased from Bitpanda and safely kept in cold-storage to ensure extra security.

Bitpanda on Twitter

Bitpanda believes in delivering transparency.

Bitpanda is a leading European crypto retail broker. It envisions to democratize the complicated world of investing. Established in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer, the company is a staunch follower of transparency and making it as easy as possible for everyone to start investing.

The BCI focuses on traders and investors who strive to join professional crypto trading without the hustle. Moreover, Bitpanda’s crypto index is a comparatively complex portfolio of investment holdings representing a certain segment of the market.

Bitpanda unveils 3 main indices.

Its underlying assets are several leading cryptocurrencies distributed by their market capitalization and liquidity. Users can buy a selected list of cryptocurrencies in three main indices called BCI5, BCI10, and BCI25. Furthermore, it enables users to fund those digital asset baskets as a whole without bothering about accepting each crypto independently. Nevertheless, each of Bitpanda’s new indices will be rebalanced automatically once a month. Thus, utilizing the data accumulated by MVIS, the index division of asset manager VanEck.

Bitpanda’s consumers will be capable of setting up a savings plan with their indices. It will set up automated regular buys, and receive BEST, the platform’s native cryptocurrency that enables reducing trading premiums by approximately 25%.

The Bitpanda Crypto index launch follows a $52 million Series A funding raised by Bitpanda in 2020, led by Valar Ventures. This is the most massive European funding round in 2020. The funding will further support the Vienna-based exchange to provide stock exchange markets to its consumers.

Earlier, notwithstanding a $48 million raise, it’s token BEST, launched in August last year, flopped miserably. During its initial exchange offering (IEO), investors gave up $0.11 per token; however, its price dropped to $0.063 as soon Bitpanda’s new exchange went live.

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