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Now a mutual fund for crypto investors! Mudrex announces Coin Sets for retail investors

Now a mutual fund for crypto investors! Mudrex announces Coin Sets for retail investors

Coin Sets, according to Mudrex, are basket of crypto tokens based on a theme and allows users to invest in ideas that they believe in to grow their wealth in the long run.

With this product, Mudrex furthers its vision of simplifying investing in crypto by building an easy-to-use product for retail investors With this product, Mudrex furthers its vision of simplifying investing in crypto by building an easy-to-use product for retail investors

If cryptocurrencies rallying has given you a 'Fear of missing out' or a FOMO feeling lately, here is a chance to take your first leap in the world of virtual tokens. Five-year-old startup Mudrex, a crypto asset management platform, has set up a mutual fund style crypto investment product called Coin Sets for retail investors. The new product, according to Mudrex, will give the investors an access to varied options of digital tokens to the individual investors. The similar offerings, according to Mudrex, were earlier available to only high-net-worth individuals (HINIs) and institutions.

With this product, Mudrex furthers its vision of simplifying investing in crypto by building an easy-to-use product for retail investors.

Coin Sets are basket of crypto tokens based on a theme and allows users to invest in ideas that they believe in to grow their wealth in the long run. "For example, a Coin Set called 'DeFi 10' is a basket of the top 10 DeFi tokens. Similarly, a Coin Set called 'NFT' is a basket of the top 6 NFT projects. The coin sets are created and managed by experts from the Mudrex team. Mudrex also takes care of allocation, order execution, and periodic rebalancing to make the user experience seamless. The product will help investors manage potential risks by diversifying their portfolios in different cryptocurrencies", the company said in an official handout.

 "As a leading global player in crypto, Mudrex is constantly looking to bring ease and simplify investing in crypto for newer investors. Coin Sets is one such product that will allow investors to mitigate risk by diversifying investment in cryptocurrencies. It is a mutual fund-like product with a better risk-reward ratio. The product is designed to expand retail participation in crypto investment, curated suitably for investors who look at crypto investments as long-term wealth creation," Edul Patel, CEO & Co-founder of Mudrex, said.

The announcement comes on the heels of Mudrex closing its $2.5 million seed funding round, which was led by Nexus Venture Partners, with participation from Village Global, Kunal Shah of Cred, Anand Chandrashekharan, and Anjali Bansal. The company has earlier raised $750,000 from Y Combinator, Better Capital, Woodstock Fund, and angels like Nitin Sharma and Anupam Mittal. The platform currently hosts 40K active users. The asset under management for the company stands at $ 15 million with a growth rate of 30 per cent month-on-month over the last 10 months.

Notably, Bitcoin and various other cryptocurrencies, including Etherium, Dogecoin, etc. have pushed through the record-high values in October with the total market-cap of the cryptocurrencies surpassing $2.5 trillion.

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