Crypto asset management firm Bitwise has <a href="https://www.businesswire.com/news/home/20210512005554/en/Bitwise-Crypto-Industry-Innovators-ETF-NYSE-BITQ-Launches" target="_blank" rel="nofollow noopener">announced</a> the launch of its Bitwise Crypto Industry Innovators ETF (BITQ) that offers investors exposure to companies in the cryptocurrency sector. The Bitwise Crypto Industry Innovators ETF is already live on the New York Stock Exchange with the ticker BITQ. The index captures the companies engaged in the crypto sector and has at least $100 million of liquid digital assets on their balance sheet.
<h2><strong>Bitwise Launches Crypto Industry Innovators ETF (BITQ)</strong></h2>
Asset management firm Bitwise has designed a Bitwise Crypto Industry Innovators ETF (BITQ) focused on thirty companies in the crypto market with at least $100M of liquid crypto assets on the balance sheet.

Also, these companies must have 75% of income derived from cryptocurrencies or have 75% of their <a href="https://www.cryptoknowmics.com/news/crypto-whales-are-having-parties-on-the-weekend/">net assets in crypto</a>.

In the announcement release, Matt Hougan, CIO of Bitwise, said:

<i>“Like e-commerce and mobile before it, crypto is a disruptive technology creating massive opportunities for new companies to emerge as winners. </i><i>Until recently, most great crypto innovators were private companies, but that’s changing rapidly. Today, there’s a growing set of public companies capitalizing on crypto, and more to come. BITQ aims to identify these businesses and give investors access.”</i>

Previously, Bitwise applied with the SEC to launch such a fund, but the firm <a href="https://www.cryptoknowmics.com/news/bitwise-pull-out-bitcoin-etf-proposal/">withdrew its application</a> from the regulatory agency earlier this year.

Hunter Horsley, CEO of Bitwise, says that BITQ aims to make crypto investment opportunities available through traditional investing platforms:

<i>“With BITQ, our aim is to make crypto investment opportunities available through traditional investing platforms and a familiar, liquid, and cost-effective ETF. We are thrilled to see this space continue to grow as investors increasingly gravitate toward this transformative asset class.”</i>
<h2>Bitwise 10 Crypto Index Fund Available to Investors on OTC Market</h2>
With over $1.5 billion in assets under management, the firm has previously launched a number of crypto index funds, including a DeFi index. Currently, Bitwise sponsors over five other <a href="https://www.cryptoknowmics.com/news/bitwise-the-latest-addition-in-1-billion-crypto-asset-club/">crypto-related funds</a> namely, Bitwise 10 Crypto Index Fund, Bitwise DeFi Crypto Index Fund, Bitwise Bitcoin Fund, Bitwise Ethereum Fund, and Bitwise 10 Index Offshore Fund.

Most are private placements available only to accredited investors but the Bitwise 10 Crypto Index Fund is made available to all investors on the OTC market.

Bitwise Launches Crypto Industry Innovators ETF

Bitwise has announced the launch of its ‘Bitwise Crypto Industry Innovators ETF” (BITQ) that offers investors exposure to companies in the crypto sector.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Bitwise Launches Crypto Industry Innovators ETF

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