Cryptocurrency asset management firm Mudrex has announced the launch of its new Coin Sets investment vehicle.<\/p>\n
The new offering allows investors to diversify their asset portfolio <\/strong>across a range of high-performing decentralized finance, or DeFi, assets, as well as nonfungible tokens, or NFT\u2019s.\u00a0<\/p>\n The niche financial model fosters the distribution of risk exposure in what is often considered a volatile marketplace, allowing investors to bet on the value proposition of an entire sector, rather than the individual potential of a single asset. The basket of assets is also\u00a0rebalanced on a monthly basis to recalculate the risk and opportunity for investors.\u00a0<\/p>\n This is reportedly the first time a product of this kind has been launched to the retail marketplace, as opposed to mutual funds with similar design and functionalities that exclusively target high-net worth clientele and institutional-grade investors.<\/p>\n Launched in January 2018, the San Francisco-based organization, is experiencing a moment of expansion, registering over 40,000 users and in excess of $15 million in assets under management. <\/p>\n In April 2020, the firm launched a digital asset trading platform titled Mudrex Invest, designed to provide automated expert trading services to regular individuals. <\/p>\n On Aug. 10, it was announced that the firm had received a seed funding raise of $2.5 million orchestrated by Nexus Venture Partners, with additional participation from the likes of Village Global and Kunal Shah, among others. <\/p>\n It is expected that the recent acquisition of funds will contribute to expanding the firm’s operational workforce, in addition to the deployment of further products and services. <\/p>\n Related: Portfolio rebalancing through DeFi must be simplified to see adoption<\/em><\/strong><\/p>\n Cointelegraph spoke to the co-founder of Mudrex, Edul Patel, who commented on the identified target audience for the launch of the new product:<\/p>\n The demand for a simple to invest product like Coinsets is so universal that we have a lot of interest from across demographics. The product is especially attractive to new entrants into crypto who are quickly overwhelmed with the information overload in the asset class.<\/p><\/blockquote>\n In addition, Patel revealed an innovative aspect of the Coin Set product which encourages a self-assembling approach to portfolio creation, as well as reporting that one of India’s largest portfolio management systems, MintingM, have utilized the model for their flagship product xMINT.<\/p>\n “One very interesting feature that we have enabled is letting pro traders\/creators and influencers build their own Coin Sets and distribute it to their own communities to unlock wealth creation for theme.”<\/p><\/blockquote>\n