Tracker fund targets index of digital currencies

DLT Financial, a start-up based in London, is planning to roll out a fund tracker targeting an index of digital currencies, including bitcoin, in hopes of making the virtual coins “a more attractive investment asset class,” Reuters reported.

The index covers 10 cryptocurrencies, according to the report. Aside from bitcoin, there’s also ether and Ripple, a digital currency for bank-to-bank payments. The company plans to use the cold storage method—essentially taking data offline and storing it in hard drives—to minimize the risk of hacks.

Dave Askey, co-founder of DLT Financial, said the goal is to “bridge the gap” between blockchain technology and the “traditional institutional investment community.”

“Currently it’s really very hard to invest in these assets as a pretty deep technical knowledge is needed to buy and manage them. We want to bring (them) to the wider community,” Askey said, according to the news outlet.