Alongside, a startup backed by a16z, is looking to revolutionize cryptocurrency investments with its decentralized index fund.
Alongside, a startup backed by a16z, is looking to revolutionize cryptocurrency investments with its decentralized index fund. The company, which offers exposure to a basket of the top 15 cryptocurrencies through a single token, announced the launch of its V2, fully migrating the product onto the blockchain.
Alongside intends to give a more decentralized approach to token investing by harnessing the benefits of blockchain technology. The V2 release removes most of the centralized management present in typical fund designs, resulting in a better, faster, and less expensive index product.
While custody has been shifted wholly on-chain, the firm is still working on decentralizing the fund's methodology. Coinbase and Franklin Templeton are among the investors who contributed $11 million to the firm.
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