Bitwise, the Latest Addition in $1 Billion Crypto Asset Club
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Bitwise, the Latest Addition in $1 Billion Crypto Asset Club

February 24, 2021      Sahaj Sharma

According to the latest announcement, Bitwise assets under management, AUM, have just joined the $1 billion crypto-asset club. This astounding growth has been ascribed to a pair of funds; the DeFi Crypto Index Fund and the 10 Crypto Index Fund.

Available Funds in Bitwise Crypto Assets Under Management Exceeds $1 Billion

Hunter Horsley, the CEO of Bitwise said:

“Professional investors value index funds because they provide exposure while delivering peace of mind that the strategy will be managed and rebalanced as the category evolves.”

The 10 Crypto Index Fund of Bitwise recently surpassed $900 million in assets under management. As for the particular fund, it keeps a track of an index of the top-10 largest crypto assets. 

Bitwise DeFi Crypto Index Fund, on the other hand, is a bit more specific, as it provides sectoral exposure to assets like Aave and Uniswap. 

Launched on February 17, 2021, the index fund is a brand new development with strong demand. Matt Hougan, the Chief Investment Officer of Bitwise said:

“We’ve been impressed with how quickly the DeFi fund has resonated with investors.” 

In addition to this, he mentioned that the investors find the disruptive potential of DeFi thrilling and instinctive.

Shares of Bitwise Bitcoin Fund Allowed to Trade on OTCQX

An announcement made earlier this year revealed that Bitwise has started the regulatory process to allow the shares of its Bitcoin Fund to trade on OTCQX.

However, once the regulatory process is approved, the shares of the fund will soon be rolled out on the traditional brokerage accounts.

Teddy Fusaro, the President of Bitwise, released a statement, that read:

“We are tremendously excited to take the Bitwise Bitcoin Fund down the path recently taken by the Bitwise 10 Crypto Index Fund.”

Apart from the 10 Crypto Index Fund; Bitwise has also launched a fresh trading fund called the Osprey Bitcoin Trust.

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Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.