Digital asset investment company Hashkey Capital has partnered with FTSE Russell, a subsidiary of the London Stock Exchange Group (LSEG), to launch three indices for tracking cryptocurrencies. These indices provide investors and traders with the ability to monitor a wide range of assets across different segments of the digital asset market.
Collaboration between Hashkey Capital and FTSE Russell
Hashkey Capital has joined forces with FTSE Russell, a well-known provider of benchmarks, analytics, and multi-asset data solutions. Together, they have introduced three comprehensive indices that focus on tracking the performance of various crypto assets.
Starting from January 24, 2024, these indices will be accessible on the FTSE Russell website. There are also plans to make them available through other data providers, including Bloomberg, Factset, LSEG Data and Analytics, Morningstar, and S&P Capital IQ, in the future.
During the announcement, Chris Williamson, Head of Asia-Pacific Index Investments Group at FTSE Russell, expressed his excitement about the collaboration with Hashkey Capital:
"We are excited to have collaborated with HashKey Capital in the development of these new custom indices. The indices start with our rigorous vetting and monitoring process, setting standards for asset and exchange inclusion to meet institutional demand for investability and regulatory integrity in this new asset class."
The Three Indices
According to the announcement, the first index is the FTSE Custom Digital Asset Top 20 Index, which tracks the top 20 crypto assets based on market capitalization. This index reflects the performance of over 90% of the digital asset market.
The second index is the FTSE Custom Digital Asset Infrastructure Index, which focuses on assets that are fundamental to the crypto ecosystem, such as smart contract platforms and distributed computation.
The third index is the FTSE Custom Digital Asset Application Index, which tracks assets related to staking and decentralized finance (defi).
Hashkey's Recent Developments
Hashkey Capital recently obtained a comprehensive capital markets license in Singapore. In mid-January, Hashkey Group also announced a successful $100 million capital raise through a Series A funding round. Mr. Deng Chao, Managing Director of Hashkey, commented on the surge in demand from investors looking to diversify their portfolios beyond established cryptocurrencies.
What are your thoughts on Hashkey's collaboration with FTSE Russell? Share your opinions in the comments section below.
Frequently Asked Questions
What is the interest rate on a gold IRA?
It depends on how much money you put into it if you have $100,000, then yes. You can't if you have less than $100,000
The amount you invest in an IRA affects its ability to earn interest.
If you have more than $100,000 in retirement savings each year, you might consider opening a regular brokerage accounts.
There you will earn more interest, but also be exposed to higher risk investments. You don't want to lose all of your money if the stock market crashes.
However, if you only put in $100,000 per annum, you'll probably be better off with an IRA. At least until the market recovers.
Can you make a profit on a Gold IRA?
You must first understand the market and then know which products are available to make money.
Trading is not a good idea if you don’t know what you need.
Also, you should find the broker that provides the best service possible for your account type.
You can choose from a variety of accounts, including Roth IRAs or standard IRAs.
You may also wish to consider a rollover if you already have other investments, such as stocks and bonds.
How do you choose an IRA.
Understanding the type of account you have is the first step towards finding an IRA that suits your needs. This includes whether you are looking for a traditional IRA or Roth IRA. You should also know how much money your have available to invest.
Next is deciding which provider best suits your needs. Some providers offer both accounts while others are specialized in one.
Last, consider the fees associated to each option. Fees may vary from one provider to another and could include annual maintenance fees as well. For example, some providers charge a monthly fee based on the number of shares you own. Others will only charge once a quarter.
Is it a good idea to open a Precious Metal IRA
Answers will depend on whether you have an investment goal or how high you are willing and able to tolerate risk.
If you plan to use the money for retirement, you should open an account now.
The reason is that precious metals are likely to appreciate over time. You can also diversify your portfolio with them.
Additionally, silver and Gold prices tends to move together. This makes them better choices when you want to invest in both assets.
Do not invest in precious metals IRAs if your goal is to save money or take on any risk.
How to open a Precious Metal IRA
You can open an IRA in precious metals by opening a Roth Individual Retirement Account (IRA), which you can self-direct.
This type of account is superior to other types of IRAs in that you don't pay any taxes on the interest earned from your investments, until you withdraw them.
People who are looking to save money and still need a tax break will find it attractive.
You do not have to only invest in gold and silver. You can invest anywhere you wish, as long as it is within the IRS guidelines.
Although most people think of gold and silver when they hear the term “precious metal,” there are many kinds of precious metals.
These include palladium, platinum, rhodium,osmium,iridium, andruthenium.
You can invest in precious and base metals in many different ways. Two of the most popular ways to invest in precious metals are buying bullion coin and bar coins, and also purchasing shares in mining corporations.
Bullion Coins or Bars
One of your easiest ways to get into precious metals is to purchase bullion coins. Bullion is a general term that refers to physical ounces of gold and silver.
Bullion bars and bullion coins are actual pieces of the metal.
While you might not see any change in your pocket after you purchase bullion coins and bars at a store, you will notice some benefits over time.
For example, you'll get a piece of history in a tangible form. Each coin and each bar have a story.
If you compare the nominal value to face value, you will often find that it is worth much less than its nominal. The American Eagle Silver Coin cost $1.00 an ounce in 1986 when it was first introduced. The price of an American Eagle is now closer to $40.00 a ounce.
Bullion has had a tremendous increase in its value since its introduction. This is why many investors choose bullion bars and bullion coin over futures.
Mining Companies
If you are looking to invest in precious metals, there is another option: investing in mining shares. When you invest in mining companies, you are investing in the company's ability to produce gold and silver.
In return, you will receive dividends based on the company's profits. These dividends will then go towards paying out shareholders.
The company's growth potential will also be of benefit to you. The company's share prices should also increase as demand increases for the product.
This is why it's important that you diversify your portfolio. Stocks can fluctuate in prices so it's important to diversify. This means you can spread your risk to multiple companies.
However, it's also important to remember that mining companies aren't immune to financial loss, just like any stock market investment.
If gold prices drop dramatically, your ownership share could be worthless.
The Bottom Line
Precious metals, such as silver and gold, can be a refuge during economic uncertainty.
Silver and gold, however, can experience wild swings in their prices. You might be interested in long-term investments in precious metals. Consider opening a precious metals IRA with a reputable company.
This allows you to benefit from tax advantages and physical assets.
Statistics
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- Silver must be 99.9% pure • (forbes.com)
- The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
External Links
wsj.com
regalassets.com
kitco.com
en.wikipedia.org
How To
How to convert your IRA into a Gold IRA
Are you looking to transfer your retirement savings out of a traditional IRA in favor of a gold IRA. This article will guide you through the process. Here are some tips to help you switch.
Rolling over is the process of transferring money from one type of IRA to another. Rolling an account over offers tax advantages. Some prefer to invest directly in physical assets like precious and rare metals.
There are two types IRAs – Traditional IRAs, and Roth IRAs. The difference is simple. Traditional IRAs allow investors the ability to deduct taxes whenever they withdraw their earnings. Roth IRAs are not. This means that if you have $5,000 invested in a Traditional IRA, you will only be able take out $4850 after five years. You would still be able to keep all your money if you had the same amount invested in a Roth IRA.
These are the things you need to know if your goal is to convert from a traditional IRA or a gold IRA.
First, you need to decide whether to roll over your current balance into a new account or simply transfer funds from your old account to your new one. Transferring money will result in income tax being paid at the normal rate for earnings greater than $10,000. However, if your IRA is rolled over, these earnings will not be subjected to income tax until age 59 1/2.
Once you have made up your mind, it is time to open a brand new account. You will likely need to show proof of identity, such as a passport, Social Security card, or birth certificate. Next, you will need to complete paperwork proving your ownership of the IRA. Once you have filled out the forms, your bank will receive them. They will verify your identity as well as give instructions on how to send wire transfers and checks.
The fun part is here. After you have received approval from the IRS, you will deposit cash to your new account. After approval is granted, you will receive a letter saying that you are now allowed to withdraw funds.
That's it! All you need to do now is watch your money grow. Keep in mind that if your mind changes about converting your IRA to another type, you can simply close it and transfer any remaining balance to a new IRA.
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