Multi-regulated brokerage Exante has expanded its range of cryptocurrencies incorporated into its Bitcoin and XAI funds and will now add support for six new coins, including Binance Coin (BNB), Decred (DCR), Qtum (QTUM), Maker (MKR), Ravencoin (RVN) and 0x (ZRX).
The Malta-based broker debuted its Bitcoin-only hedge fund back in 2013. At the time, cryptocurrency trading was carried out through EXANTE crypto funds, which allow buying bitcoin and 15 popular altcoins. Exante offered the Bitcoin Fund with an initial minimum subscription of $100,000 and a 0.5% fee for subscriptions and redemptions (1 Bitcoin Fund share = 1 bitcoin). There’s also a commission of a 1.75 percent annual fee (payable in bitcoin to preserve the ratio) for managing the security necessary to safeguard the private keys.
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Also in 2017, Exante launched a dedicated altcoin index, XAI, which allows clients to speculate on prices of popular alternative cryptocurrencies. XAI Fund is secured by the real cryptocurrencies included in the index, and it did not include Bitcoin into the list to make the offering more diversified.
Regulated activities
EXANTE has been one of the few brokers that jumped on the cryptocurrency bandwagon from the very beginning. The company started the Bitcoin fund six years ago, which allowed trading that specific cryptocurrency, then added more popular altcoins such as Litecoin, Ethereum, Monero, Zcash, and Ripple.
Finance Magnates also reported on Exante last year when its new venture capital fund ‘Exantech’ announced its first investment – $10 million in cryptocurrency miner Comino.
EXANTE is regulated by the Malta Financial Services Authority (MFSA) and the Cyprus Securities and Exchange Commission (CySEC). The brokerage is also authorized to provide services in the United Kingdom by the Financial Conduct Authority (FCA).
As an EU-regulated investment firm, EXANTE falls under the MiFID’s jurisdiction and thus operates in compliance with the international standards the relevant authorities have set.
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