First Crypto ETF is set to launch a pre-initial coin offering before embarking on a full coin sale.
The firm says that this is the first ETF in the crypto-currency sector and plans to buy 10 crypto-currencies with high liquidity and daily trading volumes. First Crypto ETF’s portfolio will include Bitcoin, Ethereum and Litecoin as well as Zcash and Monero.
Against this package, a token will be issued that can be traded on crypto-currency exchanges worldwide.Trading will also take place over peer-to-peer platforms, with day-to-day operations controlled by technology, the Authorize Engine, running on proprietary hardware infrastructure and algorithms.
Crypto Revolution
The firm says that the First Crypto ETF offers new possibilities for daily traders, beginners and portfolio managers. «This is a minor revolution,» says Peter Vrabel, chief executive officer of First Crypto ETF.
According to the company, through the First Crypto ETF, the general public will gain access to crypto-currencies, anyone can obtain several crypto-currencies using a single token tradable in crypto-exchanges worldwide.
Transparency Claim
Secondary access will be provided using a unique product, named the Black Card, which can be purchased on First Crypto ETF’s website using a debit or credit card.
Singapore based TenX currently claims to be the only company worldwide that makes any cryptocurrency spendable anytime anywhere by offering a debit card payment system to its users.
The firm claims its operations are audited by one of the big four accountancy firms saying this brings a high level of transparency. «We are in close dialogue with these companies, once the initial coin offering (ICO) process is complete, we will sign a contract with them,» added Vrabel.
