Upbit Launches New 'BTC-ETH Duo Strategy Index'
Holding Bitcoin and Ethereum
Blockchain and fintech specialist Dunamu announced on the 12th that it has launched a new ‘BTC-ETH Duo Strategy Index’ under its cryptocurrency index service UBCI (Upbit Cryptocurrency Index).
The BTC-ETH Duo Index is a strategic index composed of Bitcoin and Ethereum, ranked first and second in market capitalization in the cryptocurrency market. It applies an equal-weighted method that adjusts Bitcoin and Ethereum monthly at a 1:1 ratio.
Since the U.S. Securities and Exchange Commission (SEC) approved the listing of a Bitcoin spot Exchange-Traded Fund (ETF) in January, Bitcoin and Ethereum, regarded as representative cryptocurrencies, have attracted significant attention. In response, Dunamu designed a strategic index holding Bitcoin and Ethereum. Investors can use this index to estimate the returns when holding Bitcoin and Ethereum.
The BTC-ETH Duo Index recorded a return of 58% over the past month. Compared to the Upbit Market Index (UBMI) return of 55% during the same period, it outperformed the overall cryptocurrency market return by 3 percentage points.
A Dunamu representative stated, “With the approval of the Bitcoin spot ETF listing, Bitcoin has entered the U.S. institutional market, increasing interest in cryptocurrencies. We will continue to quickly identify investor interests and consistently launch indices that meet demand.”
Hot Picks Today
Meanwhile, Dunamu developed the cryptocurrency index service (UBCI) in 2018, the first of its kind among domestic exchanges, to provide an overview of the Korean won cryptocurrency market trends. UBCI offers ▲‘Market Index’ showing overall market trends ▲‘Theme Indices’ grouping specific themes such as the Ethereum group and DeFi ▲‘Strategy Indices’ selecting cryptocurrencies that have shown excellent past returns or are expected to rebound.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
