Summary
- Faraday Future, listed on Nasdaq, announced it would start investing in virtual assets.
- Officially unveiled the C10 Index and revealed plans to purchase virtual assets worth $500 million to $1 billion.
- Faraday Future also mentioned it is considering launching an ETF based on this index.
Faraday Future, listed on the US Nasdaq, is reportedly set to begin investing in virtual assets (cryptocurrencies).
According to GlobeNewswire on the 17th (local time), Faraday Future announced in a press release, "We are officially launching the 'C10 Index,' composed of the top 10 virtual assets," and added, "Accordingly, we will commence the purchase of virtual assets worth between $500 million and $1 billion." It further explained, "The reserve will be based on an 80% passive strategy and a 20% active strategy," and stated, "The initial purchase amount is about $30 million."
Additionally, the company hinted at the possible launch of an exchange-traded fund (ETF) tracking the index. Faraday Future said, "We are considering launching an ETF based on the C10 Index in the future."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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