CoinBundle Launches, Reportedly Set to Introduce the First Crypto ETF

Omar Faridi
  • Similar to traditional mutual funds, users can now buy "bundles" of cryptocurrencies from newly launched CoinBundle.
  • CoinBundle reportedly offers custodian services and both high-risk and conservative crypto investment portfolio options.

CoinBundle, a cryptocurrency investment platform, was officially launched on September 20th after first being introduced on Product Hunt, a website that lets users share and test new products. CoinBundle allows users to purchase “bundles” of digital currencies instead of buying individual tokens.

Saad Rizvi, the co-founder and CEO of CoinBundle, told CryptoGround (on September 10) that his firm is “bringing a tried and tested methodology from traditional finance and stock investing to cryptocurrencies.”

Historically Better Performance

Rizvi explained that investments in “bundled” stocks such as exchange-traded funds (ETFs) and mutual funds generally perform better in the long-term compared to investments in single, or individual, stocks.

As mentioned in CoinBundle’s press release, users may invest in “curated bundles based on their risk profiles.” All cryptocurrency investments will also be “stored with a qualified custodian.” Additionally, users’ funds will reportedly be “insured against theft” by the Lloyd’s of London, a corporation that serves as an insurance and reinsurance market.

Founded in early 2018, CoinBundle has reportedly received investments venture capital firm Amino Capital, Y Combinator, Initialized Capital, Funders Club, and Switch VC. The San Francisco-based startup has also been funded by legendary National Football League (NFL) quarterback Joe Montana’s VC firm Liquid2.

Crypto ETF, Conservative, Aggressive Investments

CoinBundle’s long-term goals include “enabling the next billion users from emerging markets to take full advantage of investing in cryptocurrencies.” The crypto investment platform’s developers also aim to help users “participate in the New Internet (Web 3.0)” - a new paradigm in web-based technology developed using artificial intelligence.

Significantly, one of CoinBundle’s most sought after services might be its “open ecosystem for crypto ETFs” which is reportedly in its early stages of development. Currently, users are able to invest in the company’s three different crypto bundles which include: Conservative (CNS2), Aggressive (AGR10), Emerging (EME10). A Thematic bundle will be added later on as it’s completing its “final stages of development.”

As described on CoinBundle’s official website, the CNS2 bundle consists of bitcoin (BTC) and ethereum (ETH) investments. The Aggressive, or AGR10 bundle, includes ripple (XRP), bitcoin cash (BCH), litecoin (LTC), bitcoin, among others.

Halal, Eco-Friendly Bundles

The Emerging bundle includes crypto assets which CoinBundle has identified as “high potential emerging technologies” such as ZCash (ZEC). As covered, the Digital Asset Research group believes ZCash offers better privacy features than Monero (XMR).

CoinBundle’s Thematic bundle offers users the option of investing in cryptocurrencies that “align with [their] values” like an environmentally-friendly bundle or the Halal bundle for Muslim investors.

According to the digital asset investment firm’s press release, their crypto bundles have been put together after “extensive qualitative and quantitative research” performed by an “in-house finance team.”

Travala’s Token AVA Jumps Following Announcement of Partnership with Expedia

Michael LaVere
  • Binance-backed cryptocurrency travel booking platform Travala has announced a partnership with Expedia Group.
  • Travala's native token AVA appreciated more than 20 percent following the announcement.

The Binance-backed travel booking website Travala has announced a new partnership with the online travel agency Expedia Group. 

According to a press release published July 6, Travala and Expedia have joined forces to offer consumers a frictionless cryptocurrency travel-booking experience. The release claims more than 700,000 Expedia Group hotels and accommodations have been made available via Travala.com, in addition to the platform’s existing 2 million hotels across 230 countries. 

Juan Otero, CEO and co-founder of Travala, said the new partnership reflected the rise in popularity for cryptocurrency. He also explained that consumer travel was on the rise following months of COVID-19 imposed shutdown. 

He said:

Our latest month-on-month data shows consumer confidence and the desire for travel is returning, with an 81% increase in room nights booked and website traffic up 50% week-on-week.

Binance CEO Changpeng Zhao said Travala had proven its ability “to build a world-class travel booking platform” and was excited by the partnership with Expedia. 

AVA, the native token for Travala, underwent a subsequent price increase following the announcement. As of writing, the coin has appreciated more than 20%. 

Altcoins Move up as Bitcoin Stalls

The AVA token is not the only in the cryptocurrency space growing exponentially so far this year. While the price of bitcoin has been range-bound moving between $9,000 and $10,000 since the beginning of May, various altcoins have been moving up.

Over the last 6 months, the price of BTC is up little over 13% according to CryptoCompare data, while other altcoins have been moving up. Most of these are related to the decentralized finance space, or to blockchains launching new products or announcing specific partnerships.

VeChan's VET, for example, surged after it was announced VeChain was attending the World Artificial Intelligence Conference 2020, hosted by the Shanghai Municipal People's Government. The conference will also be attended by Microsoft, Alibaba, Tencent, Huawei, and Amazon. One VET is changing hands for $0.0148, up from $0.,0055 in January.

As CryptoGlobe reported, Kyber Network's KNC tokens have risen over 650% year-to-date thanks to the upcoming Katalyst update, which will allow token holders to earn ETH rewards while participating in governance by staking their tokens. 

Another altcoin that moved up significantly is OKEx's OKB cryptocurrency. The token, which gives various advantages to the bitcoin exchange's users, is up 74% over the last six months, going from $2.78 to $5 at press time.

day_CryptoCompare_Index_OKB_USDT_231_11594045158429.pngSource: CryptoCompare

OKEx's OKB isn't tied to decentralized finance protocols, which Waves CEO Sasha Ivanov warned could be turning into the  next ICO bubble, but is instead tied to one of the leading crypto exchanges in the world. 

Decentralized finance protocol Aave has also seen the price of its LEND token surge so far this year. While in January the tokens were trading at $0.017, they are now $0.175 -- a 750% increase.

Featured Image Credit: Photo via Pixabay.com