Investment company, under which management is more than $1.5 billion, refused to work with some of the major cryptocurrencies because of their high centralization
New cryptocurrency index Fund launched investment company Morgan Creek. It did not include some of the major digital money, such as Stellar and Ripple — due to the fact that their production was performed through PreMain (when a developer leaves a certain amount of coins before beginning their wide dissemination), according to Forbes.
“If there is a Central authority that controls 30% of the issue or more, we remove this cryptocurrency from the index. It carries additional risks which may not be in a more decentralized network,” said founder and partner of Morgan Creek Digital Assets Anthony Pompliano.
Criteria for inclusion in this index is capitalization, to secure the assets, the risks likelihood a manipulation of their cost and the recognition tokens in securities. They were not in IOTA and Cardano, Tezos, VeChain and other digital money.
Almost 70% of the portfolio is bitcoin, also in the index the Fund is comprised of Ethereum, Bitcoin Cash, EOS, Litecoin, zcash for, Monero, DASH, Ethereum Classic and OmiseGo. Pompliano, stressed that the company has created a new product that is already available to institutional investors and will attract their attention.
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