It is the first time that such a product has been launched for retail investors. Such investment products were earlier available but accessible only to HNIs and institutional investors.
Y Combinator and Nexus VP-backed Mudrex is trying to simplify crypto investment by building an easy-to-use product for smaller investors.
Coin Sets are the basket of crypto tokens, which will be based on a particular theme and investors believe this idea can gradually play on it, growing wealth in the long run.
For example, the coin set named as ‘DeFi 10’ will include top 10 DeFi (Decentralised Finance) tokens. Similarly, the coin set of ‘NFT’ will be a basket of the top NFT projects.
The coin sets are created and managed by experts from the Mudrex team. The team will take care of fund allocation, weightage, order execution and periodic rebalancing.
The product will help investors manage potential risks by diversifying their portfolios into different cryptocurrencies and reap above-average returns.
Edul Patel, CEO & Co-founder of Mudrex, said the platform is looking to bring ease and simplify investing in crypto for new investors. Coin Sets is a product that will allow investors to mitigate risks by diversifying investment in cryptocurrencies.
“It is a mutual fund-like product with a better risk-reward ratio, curated suitably for investors who look at crypto investments as a long-term wealth creation option. The product is likely to boost retail participation in cryptos,” he added.
With an asset under management of more than $15 million, Mudrex recently raised $2.5 million funding from Nexus Venture Partners, Village Global, Kunal Shah and others. Launched in 2018, Mudrex has a user base across 90 countries.
