Binance unveils lineup of indices for passive crypto investors

The crypto exchange Binance has launched the CMC Top 10 Equal-Weighted Index. In November, the Auto-Invest product promoted within the service will become available for automatic tracking and management of diversified digital-asset portfolios.

Introducing the #Binance x @CoinMarketCap Top 10 Equal-Weighted Index!

This index will track the performance of the top ten digital assets and currencies by market cap on CMC.

Find out more ⤵️

— Binance (@binance) October 17, 2022

The CMC Top 10 Equal-Weighted Index is built on ten cryptocurrencies with equal weights and is rebalanced monthly.

Auto-Invest is part of Binance Earn. The service allows ‘one-click’ automated purchases of cryptocurrency according to a dollar-cost averaging strategy.

In the future the exchange plans to launch other indices within the Binance CoinMarketCap lineup. The popular data aggregator will provide price streams for the instruments. The indices will help users track the dynamics of the digital asset market.

New tools in the lineup may be based on assets with the largest market capitalization or on specific blockchains. A sector-based asset selection is also anticipated, including NFT, DeFi, metaverses and GameFi.

Binance plans to offer more products based on the created indices.

In July, Binance CEO Changpeng Zhao said that during the first half of 2022 the number of active Binance Earn users rose from 3.7 million to 4.9 million people.

Earlier, the largest US robo-advisory service Betterment expanded its lineup of digital-asset investment strategies. According to the company, its services are used by 730 000 clients with AUM of $30.7 billion.

In September, the asset manager with more than $1.3 trillion in assets, Franklin Templeton opened access to two digital-asset-focused strategies.

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