Now invest in Crypto like Mutual Funds! Mudrex launches Coin Sets – Check features

By: |
October 18, 2021 12:07 PM

Coin sets features: Mudrex says coin sets are 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.

mudrex coin setsRepresentative image

Global crypto asset management platform Mudrex has launched ‘Coin Sets’, which will allow retail investors to invest in a variety of Mutual-fund style crypto investment products. Such facility was earlier accessible only to HNIs and institutions, Mudrex said in a statement today.

With Coin Sets, Mudrex aims to further its vision of simplifying investing in crypto by building an easy-to-use product for retail investors.

What are coin sets?

Coin Sets are baskets of crypto tokens based on a theme. It would let users invest in ideas that they believe would help 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 have been created and Managed by experts from the Mudrex team. Mudrex would also take care of allocation, order execution, and periodic rebalancing to make the user experience seamless, the statement said.

The product will help investors manage potential risks by diversifying their portfolios in different cryptocurrencies.

Commenting on the launch of ‘Coin Sets’, Edul Patel, CEO and Co-founder of Mudrex, said, “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,” he added.

The Coin Sets announcement comes in quick succession of Mudrex closing its seed round. Mudrex recently announced a funding round of $2.5 million led by Nexus Venture Partners, with participation from Village Global, Kunal Shah, Anand Chandrashekharan, and Anjali Bansal. The company had earlier raised $750,000 from Y Combinator, Better Capital, Woodstock Fund, and angels like Nitin Sharma and Anupam Mittal.

Mudrex platform currently hosts 40,000 active users. The AUM stands at $15 million with a growth rate of 30% m-o-m over the last 10 months, the company said.

Mudrex says it has users from over 90 countries.

Disclaimer: Cryptocurrencies are not regularised assets. Investing in crypto would be subject to risks. The suggestions/recommendations around cryptocurrencies in this story are by the respective commentator. Financial Express Online does not bear any responsibility for their advice. Please consult your financial advisor before dealing/investing in cryptocurrencies.

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