CMC Markets launches exclusive range of cryptocurrency indices

CMC Markets, one of Australia’s leading contracts for difference (CFD) providers, has launched three new cryptocurrency indices for CFD traders.

The three new indices combine a range of ‘major’ and ‘emerging’ coins, offering investors an efficient and cost-effective way to access the wider cryptocurrency market without having to trade multiple, individual coins. This allows clients to diversify their cryptocurrency trading strategy, spreading risk through exposure to a bundle of different coins.

Matthew Lewis, Head of CMC Markets APAC, commented: “In recent months we’ve seen growing investor appetite for cryptocurrencies, and we’ve responded to this demand by expanding our offering with these three new indices. Our indices provide an opportunity for more traders to get involved in all ranges of the cryptocurrency market that limits the single coin volatility risks that may have been a barrier in the past.”

CMC Markets’ Major Crypto Index includes bitcoin, ripple, bitcoin cash, ethereum and litecoin. The Emerging Crypto Index is based on dash, EOS, monero, NEO, stellar lumens, cardano and TRON. A third index, the All Crypto Index, combines all of the above constituents and uses a bespoke weighting methodology to avoid dominance by any one coin.

Source: Press Release: CMC Markets launches exclusive range of cryptocurrency indices