The First Crypto ETF today announced it is to offer two leveraged cryptocurrency exchange-traded funds, ULTRA ETF BITTHEREUM and ULTRA ANONYMOUS. Both ETFs come with a double gearing, which means the gains are set to be multiplied by two.
BITTHEREUM is composed of Bitcoin and Ethereum, whereas ANONYMOUS will include Monero, ZCASH and DASH. The newly introduced ETFs complement the current more conservative portfolio of ten cryptocurrencies. In addition to the leveraged ETFs, the company plans to introduce 1:100 leverage for individual coins. The company says that leveraged products are attractive for short position holders or investors preferring higher daily volatility.
All ETFs available will be traded on the First Crypto ETF platform and in later phase at other cryptocurrency exchanges. Trading platform will offer high speed and user-friendly interface to meet high standards. It is designed to become a full-fledged exchange from the very beginning, with adequate liquidity and support. For the storage of digital assets, it offers its own safe solution: a combination of cold / hot wallets. Apart from trading ETF products the platform will also allow individual trading of ten cryptocurrencies.
The First Crypto ETF is currently in the pre-ICO process which received a positive feedback from private and VC investors. The ICO is scheduled for the beginning of 2018.