Digital asset investment company Hashkey Capital has partnered with FTSE Russell, a subsidiary of the London Stock Exchange Group, to introduce three indices for tracking cryptocurrencies. These indices provide investors and traders with a comprehensive view of the digital asset market across different segments.
Hashkey and FTSE Russell Introduce Comprehensive Crypto Asset Indices
Hashkey Capital has joined forces with FTSE Russell, a renowned provider of benchmarks, analytics, and multi-asset data solutions, to develop three indices specifically designed for monitoring crypto assets.
Starting from January 24, 2024, these indices will be accessible on the FTSE Russell website. Additionally, there are plans to make them available through various data providers, including Bloomberg, Factset, LSEG Data and Analytics, Morningstar, and S&P Capital IQ, in the future.
"We are thrilled to collaborate with Hashkey Capital in creating these new custom indices," said Chris Williamson, Head of Asia-Pacific, Index Investments Group, at FTSE Russell, during the announcement.
Williamson further added:
"The indices undergo a rigorous vetting and monitoring process, establishing standards for asset and exchange inclusion to meet the institutional demand for investability and regulatory integrity in this emerging asset class."
According to the announcement made on Wednesday, the FTSE Custom Digital Asset Top 20 Index will track the top 20 crypto assets by market capitalization, reflecting more than 90% of the digital asset market's performance.
The FTSE Custom Digital Asset Infrastructure Index will focus on assets that form the foundation of the crypto ecosystem, including smart contract platforms and distributed computation. Lastly, the FTSE Custom Digital Asset Application Index will monitor assets related to staking and decentralized finance (defi).
Hashkey recently obtained a comprehensive capital markets license in Singapore. In mid-January, Hashkey Group also announced a successful $100 million capital raise through a Series A funding round. "We have observed a significant increase in demand from investors who wish to diversify their portfolios beyond traditional cryptocurrencies," commented Mr. Deng Chao, Managing Director at Hashkey.
What are your thoughts on the collaboration between Hashkey and FTSE Russell? Let us know your opinions in the comments section below.
Frequently Asked Questions
What precious metals do you have that you can invest in for your retirement?
These precious metals are among the most attractive investments. They are both simple to purchase and sell, and they have been around for a long time. If you want to diversify your portfolio, you should consider adding them to your list.
Gold: One of the oldest forms of currency, gold, is one of mankind's most valuable. It's also very safe and stable. It's a great way to protect wealth in times of uncertainty.
Silver: Silver has always been popular among investors. This is a great choice for people who want to avoid volatility. Silver tends to move up, not down, unlike gold.
Platinium: Platinum is another form of precious metal that's becoming increasingly popular. It is very durable and resistant against corrosion, much like silver and gold. It is however more expensive than its counterparts.
Rhodium. Rhodium is used as a catalyst. It is also used in jewelry-making. It is relatively affordable when compared to other types.
Palladium: Palladium has a similarity to platinum but is more rare. It's also more accessible. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
What is the cost of gold IRA fees
$6 per month is the Individual Retirement Account Fee (IRA). This includes the account maintenance fees and any investment costs associated with your chosen investments.
If you want to diversify, you may be required to pay extra fees. The type of IRA you choose will determine the fees. For example, some companies offer free checking accounts but charge monthly fees for IRA accounts.
A majority of providers also charge annual administration fees. These fees are usually between 0% and 1%. The average rate is.25% annually. These rates are often waived if a broker like TD Ameritrade is used.
How much should I contribute to my Roth IRA account?
Roth IRAs let you save tax on retirement by allowing you to deposit your own money. These accounts are not allowed to be withdrawn before the age of 59 1/2. However, if your goal is to withdraw funds before that time, there are certain rules you must observe. First, your principal (the original deposit amount) cannot be touched. This means that regardless of how much you contribute to an account, you cannot take out any more than you initially contributed. If you decide to withdraw more money than what you contributed initially, you will need to pay taxes.
You cannot withhold your earnings from income taxes. Also, taxes will be due on any earnings you take. Let's take, for example, $5,000 in annual Roth IRA contributions. Let's further assume you earn $10,000 annually after contributing. The federal income tax on your earnings would amount to $3,500. That leaves you with only $6,500 left. The amount you can withdraw is limited to the original contribution.
You would still owe tax on $1,500 if you took out $4,000 of your earnings. You'd also lose half the earnings that you took out, as they would be subject to a second 50% tax (half of 40%). Even though you had $7,000 in your Roth IRA account, you only received $4,000.
There are two types if Roth IRAs, Roth and Traditional. A traditional IRA allows you to deduct pre-tax contributions from your taxable income. When you retire, you can use your traditional IRA to withdraw your contribution balance plus interest. There are no restrictions on the amount you can withdraw from a Traditional IRA.
Roth IRAs don't allow you deduct contributions. But once you've retired, you can withdraw the entire contribution amount plus any accrued interest. There is no minimum withdrawal limit, unlike traditional IRAs. You don't have to wait until you turn 70 1/2 years old before withdrawing your contribution.
Statistics
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
External Links
bbb.org
cftc.gov
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
finance.yahoo.com
How To
3 Ways to Invest in Gold for Retirement
It's essential to understand how gold fits into your retirement plan. There are several options to invest in precious metals if your employer has a 401k. You might also consider investing in gold outside your workplace. You could, for example, open a custodial bank account at Fidelity Investments if your IRA (Individual Retirement Account) is open. You might also consider purchasing precious metals directly from a trusted dealer if they are not already yours.
These are three simple rules to help you make an investment in gold.
- Buy Gold With Your Cash – Do not use credit cards to purchase gold. Instead, deposit cash into your accounts. This will protect your against inflation and increase your purchasing power.
- Physical Gold Coins to Own – Physical gold coin ownership is better than having a paper certificate. The reason is that it's much easier to sell physical gold coins than certificates. You don't have to store physical gold coins.
- Diversify your Portfolio – Don't put all your eggs in one basket. Also, diversify your wealth and invest in different assets. This will reduce your risk and give you more flexibility in times of market volatility.
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By: Jamie Redman
Title: Hashkey Capital Teams Up with FTSE Russell to Launch Crypto Asset Indices
Sourced From: news.bitcoin.com/hashkey-capital-and-ftse-russell-launch-trio-of-indices-to-track-diverse-crypto-assets/
Published Date: Wed, 24 Jan 2024 19:30:29 +0000
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