CRYPTO20 Set For ICO After Successful $5M Pre-Sale
CRYPTO20, the autonomous crypto index fund that tracks the top 20 cryptocurrencies, announced that their minimum fund cap was reached within hours of the pre-sale launch on 7 October 2017.
[Note: This is a press release.]
CRYPTO20’s goal is to bring peace-of-mind cryptocurrency investment to mainstream investors. It is an index fund that holds and autonomously rebalances a data science proven portfolio of the top 20 cryptocurrencies.
Actively managed funds have consistently failed to beat the market index despite decades worth of data, billions of dollars and hundreds of analysts at their disposal. When they have, their fees dilute investor returns to less than if they had simply held the index.
Due to rising crypto prices, the fund value per token exceeded the price of tokens being sold. Pre-sale investors were able to acquire $1.10 of underlying crypto assets for $0.95 per token.
The CRYPTO20 pre-sale is now over, with over 2000 backers from 93 countries and $5 million in total funds raised. The main ICO starts on the 16th of October 2017 at 18:00 GMT and ends on the 30th of November at 00:00 GMT.
A Finished Product Offering Value Now
The fund’s token, C20, is a representation of an investor’s share of the fund, and the fund’s value is equal to the combined value of its assets. CRYPTO20, unlike many of the other offerings in the marketplace today, is a finished product and not a platform.
As evidence of this fact, CRYPTO20 has released trading tools and insights that are generated live from the 8 exchanges connected to the system via API. The trading tools are available here and include information on slippage, the best price, and trading pair to acquire assets with and the volume by exchange.
Token-holders are able to liquidate the C20 token for their share of the underlying assets via the smart contract. By going directly to the end-user as a cryptocurrency itself, CRYPTO20 gives investors the ability to sell or exchange their tokens at will. The fund is fully AML/KYC compliant and operates as a registered LLC in the Cayman Islands, a popular fund jurisdiction.
The CRYPTO20 fund mitigates risk and volatility and historically has provided better returns than the market cap leader, bitcoin, alone.
Discover more at https://www.crypto20.com.
Join the CRYPTO20 Slack channel and chat with the founding team directly.
Images courtesy of CRYPTO20