Bitpanda Launched Four New DeFi-Based Thematic Crypto Indices
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Crypto Indices Allow People to Invest in Desired Area
According to Thursday's statement, these indices enable users to invest in pre-set cryptocurrency portfolios. They provide access to coins and tokens relevant to infrastructure, smart contracts, the Metaverse, and decentralized finance (DeFi). Based on changes in the market, the indices are automatically rebalanced.
Co-founder and CEO Eric Demuth said,
"With the Bitpanda Crypto Indexes, we offered our customers the opportunity to get exposure to the crypto market and start investing in crypto. Now, it's time for the obvious next steps. These four new Crypto Indices allow people to invest in areas they are passionate about. There's no hassle, no need to constantly research new crypto projects, just a simple way for everyone to diversify their portfolios."
The fintech company had previously introduced an exchange-traded note (ETN) that tracked the price of bitcoin.
BitPanda Witnessed Downsizing Recently
In addition, the business recently saw a significant downsizing due to a slump in the cryptocurrency market that caused the price of bitcoin to fall below $20,000. The company reduced its workforce from approximately 1,000 to 730 last month. The Block revealed that three weeks before laying off a third of his staff, Bitpanda's chief product officer, Lukas Enzersdorfer-Konrad, assured staff there would be no mass layoffs.