The Swiss bank SEBA has just announced its decision to launch an index, the SEBA Crypto Asset Select Index (SEBAX), optimised to assess the risk of crypto assets.
As mentioned, the new SEBAX index involves the monitoring of some selected cryptocurrencies, 5 for the moment, namely Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Stellar Lumens (XLM) and Ethereum Classic (ETC).
Obviously, within the SEBA index, these crypto assets have different weight: BTC has a major weight (48%), followed by Ethereum (28%), Litecoin (18%), Stellar (3%) and Ethereum Classic (3%).
In general, indices make it easier to determine the performance of an asset, especially for those who are used to seeing charts and indices in traditional markets.
To produce this index, SEBA worked with the European index administrator MV Index Solutions and also with Gentwo Digital to implement the specific requirements for structuring this type of investment solution.
With this tool, SEBA seeks to provide a secure tool for investors, as commented by SEBA Bank AG asset management Daniel Kuehne:
“With our investment solutions we want to offer investors the highest possible security and strengthen their confidence in the new, complex market environment of crypto currencies. With our product and investment expertise, we enable our clients to tap the new potential of digital asset classes with familiar rules from the existing financial world”.
SEBA began its operations to set up this index at the beginning of the month, offering at the same time, to institutions as well as professionals, a wide range of services both in the digital and in the more traditional fields. The bank was founded more than a year ago, in 2018, and is based in Zug, while in August 2019 the bank was licensed by FINMA as a financial provider that operates with crypto assets.