Amsterdam-based Finst, a cryptocurrency exchange platform founded by the ex-core team of European online stockbroker DEGIRO, announced on Monday that it has launched a new product named ‘Crypto Bundles’.
According to the company, Crypto Bundles will help users acquire many cryptocurrencies at once in a ‘basket’, much like with conventional stocks. Bundles resemble ETFs, which have gained popularity among ordinary investors.
However, investors in Crypto Bundles will be able to own the cryptocurrencies directly, in contrast to ETFs.
This means anybody can now invest in a Crypto Bundle, for instance, in the top 10 cryptocurrencies by market capitalisation or in the most sustainable cryptos available on the Finst platform.
The announcement comes just over a week after the company raised €4M in an oversubscribed Seed round of funding to accelerate its growth, prepare for international expansion and expand its product coverage.
What will the Crypto Bundles offer?
According to Finst, these Bundles are being made accessible for the first time in the Netherlands. It will enable investors to better distribute their risks.
For long-term investors, portfolio diversification is crucial, and in the case of cryptocurrencies, this process has been time- and money-consuming. This time is now over. Finst claims to combine the power of diversification into one solution.
The Dutch company will provide seven different Crypto Bundles in its first release. A top 2, 5, 10, and 25 depending on the current market capitalisation, as well as Crypto Bundles targeted at specific sectors.
Examples include a ‘Green Bundle’ with a variety of eco-friendly cryptocurrencies like Ethereum, or a ‘DeFi Bundle’ for the decentralised financial industry.
To keep up with market changes, Bundles are automatically rebalanced each month. As with individual cryptos, Finst says it safeguards the Bundles via a separate bankruptcy-remote vehicle.
Finst founder Julien Vallet, says, “Within five years, we aim to become the largest and most trusted crypto platform in Europe thanks to our unique combination of transparency, security, and extremely low fees.”
“Crypto Bundles are not only accessible and cost-effective, but they also help investors save time. This unique offering removes the entry barriers for millions of investors and we are proud to lead the way in passive cryptocurrency investing,” adds Vallet.
Investing in green cryptos
Finst also helps invest in digital currencies that use a more sustainable consensus algorithm than Bitcoin. These can be acquired with the curated ‘Green Bundle’, which includes the top cryptocurrencies with the lowest carbon impact.
Vallet says, “We noticed a lot of interest to invest in crypto in a sustainable way. With the Green Bundle, we are responding to this desire. We strongly believe that Bundles will attract a new generation of investors and become one of the most popular ways of accessing the crypto market.”
Largest crypto platform in Europe
Founded in 2022 by Julien Vallet and Marcel Putina, Finst offers a cryptocurrency investment platform with the lowest trading fees in the Netherlands. Its aim is to become the largest crypto exchange platform in Europe.
The company charges 0.15 per cent per transaction without minimum amount, volume commitment, or added spread. For instance, it charges just €1.50 for a trade of €1000 in Bitcoin, which is, on average, 82 per cent less expensive than other major Dutch suppliers.
Through the Finst platform, investors can diversify their wealth across 30 popular digital assets, trade 24/7 in EUR (€), and monitor the market with real-time news. The Dutch company is already registered as a Crypto Service Provider with De Nederlandsche Bank (DNB).
According to the startup, the assets coverage will be expanded in the coming weeks to include 55+ major digital assets.
On the security front, Finst has partnered with the wallet management provider Fireblocks and is safekeeping all its clients’ digital assets in a bankruptcy-remote custody vehicle.