SAN FRANCISCO–(BUSINESS WIRE)–Bitwise Asset Management, the world’s largest crypto index fund supervisor with over $1.3 billion in AUM,1 immediately introduced the launch of the Bitwise 10 ex Bitcoin Crypto Index Fund. The brand new fund is the world’s first large-cap crypto index fund to offer publicity to the thrilling developments happening within the cryptomarket past bitcoin.
Bitcoin’s share of the entire market capitalization of the crypto house has fallen from 69% to 42% up to now yr, as different property like Ethereum, Cardano and Solana have grown in dimension and significance.2
The Bitwise 10 ex Bitcoin Crypto Index Fund holds 9 of the ten cryptocurrencies that make up its $1+ billion3 flagship Bitwise 10 Crypto Index Fund (OTCQX: BITW), excluding bitcoin. These property vary in market capitalization from $8 billion to $427 billion,4 and embrace most of the property that play a foundational function within the quickly rising DeFi, sensible contract, and NFT ecosystems.
As of August 31, 2021, the brand new Bitwise 10 ex Bitcoin Giant Cap Crypto Index constituents had been5:
- Ethereum (ETH): 68.53%
- Cardano (ADA): 15.43%
- Solana (SOL): 5.49%
- Bitcoin Money (BCH): 2.09%
- Chainlink (LINK): 2.08%
- Litecoin (LTC): 1.97%
- Uniswap (UNI): 1.50%
- Polygon (MATIC): 1.50%
- Stellar (XLM): 1.40%
“This launch is being pushed by buyer demand,” mentioned Matt Hougan, Chief Funding Officer of Bitwise Asset Administration. “Many buyers immediately have publicity to bitcoin however are excited by the dynamic developments happening round different property. That’s significantly true for skilled buyers, who worth the utility these property provide. This new fund permits buyers to enhance their current bitcoin publicity with a professionally managed resolution that captures different large-cap cryptoassets.”
The fund seeks to trace the Bitwise 10 ex Bitcoin Giant Cap Crypto Index, which is overseen by the Bitwise Crypto Index Committee with assist from the Bitwise Crypto Index Advisory Board, and follows a proper methodology. All property are topic to suitability screening round liquidity, custody, and regulatory dangers, amongst different subjects. The fund is weighted by market cap.
The fund’s property are custodied with Coinbase Custody Belief Firm, LLC, the world’s largest crypto custodian. The brand new fund is obtainable to accredited buyers as a non-public placement, and is available in two share lessons: Investor Shares, which have a $25,000 minimal and cost a 2.5% expense ratio, and Institutional Shares, which have a $1,000,000 minimal and cost a 2.0% expense ratio. Neither share class prices a efficiency price.
Bitwise manages a rising suite of funding funds designed to simplify entry to the complete vary of alternatives within the crypto house. These embrace the Bitwise 10 Crypto Index Fund (OTCQX: BITW), the world’s largest and longest-running crypto index fund; the Bitwise DeFi Crypto Index Fund, the world’s first DeFi index fund; and single-asset crypto funds providing publicity to bitcoin (BTC), Ethereum (ETH), Uniswap (UNI), and Aave (AAVE).
The agency focuses on partnering with funding professionals, and immediately serves RIAs, monetary advisors, multifamily places of work, excessive web value people, hedge funds, and different institutional buyers.
1 Information as of August 31, 2021.
2 Supply: TradingView. Information as of August 31, 2021.
3 Belongings underneath administration. Information as of August 31, 2021.
4 Supply: CoinGecko. Information as of August 31, 2021.
5 Constituents could not add to 100% as a result of rounding.
ABOUT BITWISE ASSET MANAGEMENT
Primarily based in San Francisco, Bitwise is among the largest and fastest-growing cryptoasset managers. As of August 31, 2021, Bitwise managed over $1.3 billion throughout an increasing suite of funding options. The agency is understood for managing the world’s largest crypto index fund (OTCQX: BITW) and pioneering merchandise spanning bitcoin, Ethereum, DeFi, and crypto-focused fairness indexes. Bitwise focuses on partnering with monetary advisors and funding professionals to offer high quality training and analysis. The staff at Bitwise combines experience in know-how with many years of expertise in conventional asset administration and indexing, coming from corporations together with BlackRock, Blackstone, Fb and Google, in addition to the U.S. Legal professional’s Workplace. Bitwise is backed by main institutional buyers and asset administration executives, and has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg and The Wall Road Journal.
RISK DISCLOSURE AND IMPORTANT INFORMATION
Fastidiously contemplate the funding goals, danger elements, and prices and bills of any Bitwise funding product earlier than investing. Investing includes danger, together with the potential lack of principal. There isn’t a assure or assurance that the methodology utilized by Bitwise or any of the Bitwise funding merchandise will lead to any Bitwise funding product attaining constructive funding returns or outperforming different funding merchandise. There isn’t a assure or assurance that an investor’s funding goals will probably be met by an funding into any Bitwise funding product, and an investor could lose cash. Traders in any Bitwise funding product ought to be prepared to simply accept a excessive diploma of volatility in its value and the potential for important losses together with the whole lack of the funding. Bitwise funding merchandise contain a considerable diploma of danger and can be found solely to institutional and particular person accredited buyers.
Sure of the Bitwise funding merchandise could also be topic to the dangers related to investing in cryptoassets, together with cryptocurrencies and crypto tokens. As a result of cryptoassets are a brand new technological innovation with a restricted historical past, they’re a extremely speculative asset. Future regulatory actions or insurance policies could restrict the power to promote, trade or use a cryptoasset. The worth of a cryptoasset could also be impacted by the transactions of a small variety of holders of such cryptoasset. Cryptoassets could decline in recognition, acceptance or use, which can influence their value. The know-how referring to cryptoassets and blockchain is new and growing. Presently, there are a restricted variety of publicly listed or quoted firms for which cryptoassets and blockchain know-how characterize an attributable and important income stream.
The opinions expressed herein are supposed to offer perception or training and should not supposed as particular person funding recommendation. Bitwise doesn’t characterize that this data is correct and full and it shouldn’t be relied upon as such.
This materials represents an evaluation of the market setting at a selected time and isn’t supposed to be a forecast of future occasions or a assure of future outcomes. This data shouldn’t be relied upon by the reader as analysis or funding recommendation relating to the funds or any safety specifically. Previous efficiency isn’t any assure of future outcomes.
Diversification could not shield towards market danger. Diversification doesn’t guarantee a revenue or shield towards a loss in a declining market.
Bitwise could try and have shares of its funding merchandise quoted on a secondary market. Nonetheless, there is no such thing as a assure this will probably be profitable. Though the shares of sure Bitwise funding merchandise have been permitted for buying and selling on a secondary market, buyers in some other Bitwise funding product shouldn’t assume that the shares will ever receive such an approval as a result of a wide range of elements, together with questions that regulators such because the SEC, FINRA or different regulatory our bodies could have relating to the funding product. Shareholders of such funding product ought to be ready to bear the danger of funding within the shares indefinitely.
This press launch shouldn’t be a suggestion to promote or the solicitation of a suggestion to purchase any safety in any jurisdiction the place such a suggestion or solicitation could be unlawful, nor shall there be any sale of any safety in any jurisdiction wherein such provide, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of that jurisdiction. The provide and sale of those funding merchandise haven’t been registered with or permitted or disapproved of by the Securities and Trade Fee or the securities fee or regulatory authority of any state or international jurisdiction.