Blockchain Startup First Crypto ETF Announces Platform and ICO Campaign
| Updatedby Andy Watson · 3 min read
First Crypto ETF, also known as the world’s first cryptocurrency exchange traded fund (ETF), announced the launch of its unique platform, using blockchain technology and company’s own proprietary authorized engine, which perfectly manages digital assets.
Bratislava-based blockchain startup First Crypto ETF has announced its Initial Coin Offering (ICO) campaign as it plans to launch its platform as the world’s first cryptocurrency exchange traded fund (ETF). The new startup plans to purchase 10 different cryptocurrencies with the highest liquidity and daily trading volumes.
The first Crypto ETF’s portfolio will include Bitcoin, Ethereum, and Litecoin as well as Zcash and Monero. Once launched, the platform will issue a native token that will be traded against these currencies on various global exchanges.
First Crypto ETF (FCTF) is a fund with a unique platform that uses blockchain technology and a proprietary authorized engine to manage various digital assets, which it holds in a form of a portfolio. The platform will issue native tradable tokens which are traded against this portfolio and will be listening on trading platforms to be bought or sold. Additionally, the platform is designed to give some power back to the users, as any backer holding more than 1 million tokens will be given the ability to nominate an individual to become a member of the board of directors.
The intention of First crypto ETF is to increase transparency and give crowdsale participant some say in the company’s daily actions and business. Over the course of the crowdfunding campaign, First Crypto ETF plans to amass sufficient funds to build its infrastructure, programming, marketing costs and set up its initial portfolio of cryptocurrencies. Three months after the official launch, First Crypto ETF aims to initiate the first buyback offer of FCTF tokens.
The potential for added efficiency from First Crypto ETF’s settlement makes a strong argument for the implementation of blockchain technology for ETFs. Trades can be executed instantly, and intermediaries are surplus to requirements. Platform users will be able to oversee the portfolio, coin history, liquidity and other factors that could give them insight into the trading market.
The platform will also enable P2P trading, with everyday operations controlled by the company’s unique technology – the Authorize Engine – which runs on proprietary hardware infrastructure and algorithms. First Crypto ETF also offers a service called the Black Card, which can be purchased on the website with a debit or credit card.
First Crypto ETF can potentially offer daily traders daily savings on trading costs. In addition, beginners and portfolio managers may be able to obtain an easier way to enter the crypto-currency market. This could also provide liquidity to crypto-currency exchanges and boost daily trade volumes.
