One of the companies that had come into considerable focus among investors on Monday was GlobalBlock Digital Asset Trading Limited (OTCMKTS:BLVDF) after the company made a major new announcement. It announced that it had been successful in launching its latest crypto portfolio product named GB10.
On Monday, BLVDF stock ended flat at $0.0400 with more than 500 shares, compared to its average volume of 140 shares. The stock moved within a range of $0.0400 – 0.0400 after opening trade at $0.0400.
GlobalBlock Launches New Crypto Portfolio Product GB10; Announces Leadership Transition
The product is going to allow users to make instant investments into a portfolio that is diversified with as many as 10 of the top cryptocurrencies in the market. The portfolio is weighted as per the market cap of the cryptocurrencies in question and at the start of each month, the portfolio is rebalanced.
The news came as a source of considerable optimism among investors and the GlobalBlock Digital Asset Trading Limited stock ended up with gains of as much as 33% as a consequence. It is now going to be interesting to see if the stock can manage to add to its gains over the course of the coming days or not.
More importantly, the GB10 portfolio is going to provide investors with a balanced exposure to 10 of the biggest cryptocurrencies by market cap and that may make the product an attractive proposition for many.
David Thomas, the new CEO of GlobalBlock (see below under “Leadership Transition”), commented: “After significant investment in our tech with the recent launch of our new mobile app, which continues to see strong downloads and conversion rates, we are pleased to bring GB10 to market. Our decision to create this product was in response to demand from existing clients, and the realisation that many investors entering or currently in the crypto space want a product that gives a broad entry point to the most established crypto projects. The GB10 product is the first of a few products we are looking to bring to market, so it is great to have this first one launched.”