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IronChain Capital launches first-of-its-kind mutual fund-like cryptocurrency index fund

Tuesday, May 15, 2018
Opalesque Industry Update - IronChain Capital announced the launch of two innovative mutual fund-like cryptocurrency index funds: IronChain MiX10 and IronChain MiX10 Institutional. Both Funds will track the MiX10 Index, a market cap weighted index that tracks up to the 10 largest cryptocurrencies (www.mithrilx.co). The Funds offer daily liquidity, broad diversification and institutional-grade security and custody for only a 1% management fee. IronChain will waive the management fee for one year for investors that set up an account by June 30, 2018.

Accredited investors and qualified purchasers can directly invest in the Funds in USD, Bitcoin and Ether on a daily basis through IronChain's website, providing for an efficient process and intuitive investing experience. The Funds benefit from a hybrid liquidity pool that combines exchange aggregation and OTC desks. The Firm also leverages its network of custodians and technology partners, including Kingdom Trust, Ledger and Xapo, to provide investors with best-in-class asset security.

"The disruptive nature of cryptocurrencies and the blockchain technologies at a global level is real, but poses an important challenge for investors to obtain exposure," said Jonathan Benassaya, CEO and Founder of IronChain. "Our mission is to build the first full-service investment platform dedicated to cryptocurrencies that provides easy access to the most liquid digital currencies. We believe our first two Funds will be a game changer in helping to further institutionalize the digital asset industry."

In conjunction with the launch of its two Funds, IronChain has also completed a $2.5 million seed round of capital raising led by Matrix Partners in partnership with Montage Ventures and Draft Ventures. The capital will be used to strategically build out IronChain's platform and suite of offerings.

IronChain is led by a highly experienced executive management team comprised of technology entrepreneurs and asset management veterans from many of the world's leading global financial institutions. In addition to its founder, IronChain's co-founders include Steven Baum (former President/COO of multi-billion dollar hedge funds Ivory Capital and JMB Capital), Michael Yeh (Goldman Sachs, Blackrock/BGI, Charles Schwab) and Dr. Anton Muehlemann (Wikifolio, Blockchain at Berkeley).

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