Cryptocurrency index market Alongside has announced the release of AMKT V2, which features or improvements include no reliance on custodians, on-chain rebalancing, permissionless minting and redemption, and the addition of wstETH components. AMKT V2 will be natively deployed on the Ethereum mainnet and will provide liquidity on multiple L2s, including Arbitrum and Optimism.

Index investment agreement AMKT announced the launch of V2 version, completing the migration to the blockchain. V1 relied on Coinbase as a custodian for the packaged asset model, while V2 completely transfers custody on-chain. Earlier news, the encrypted index platform Alongside completed a $11 million seed round financing, led by a16z, with participation from Coinbase Ventures, Franklin Templeton Investments, Village Global, Not Boring Capital, and several angel investors. In January of this year, Alongside launched its first product, the Alongside Crypto Market Index(AMKT), which allows people to access the entire crypto asset market through a single token. (The Block)