Crescent Crypto Asset Management, a digital asset index provider that manages a suite of private index funds for US and offshore investors, today announced that it has partnered with USCF, to file a registration statement for a cryptocurrency exchange traded product (ETP), the USCF Crescent Crypto Index Fund (NYSE Arca: XBET).
USCF is an asset management firm offering investment products across commodity and alternative asset classes. Crescent will act as a co-portfolio manager for the fund providing strategic advisory on cryptocurrency operations, trading, and custody.
The fund will offer investors an index solution to obtain cryptocurrency exposure through a public vehicle. XBET will track the Crescent Crypto Core II Index, which USCF has licensed from Crescent’s affiliate, Crescent Crypto Index Services LLC, as its benchmark index.
The Index tracks the performance of a market cap weighted basket of Bitcoin and Ether, which are the largest and most liquid cryptocurrencies covering approximately 65% of the overall cryptocurrency market cap.
“Crescent’s mission is to create innovative investment solutions that make cryptocurrencies accessible to mainstream investor. USCF has a robust ETP infrastructure and a history of pioneering alternative asset funds. This makes them the ideal partner to accomplish that mission through a differentiated product, which offers better diversification than Bitcoin alone.”
“We consider it a privilege to build a relationship with Crescent. Their team possesses an incredible depth of market knowledge and their indices and insights are a benefit to investors following the cryptocurrency markets. We look forward to leveraging their expertise as we develop and launch exciting new products.”
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