Last Updated: December 17, 2024
Bitwise Investments has surpassed $ 1 billion in assets under management (AUM).
Strong growth is observed thanks to the Bitwise 10 Crypto Index Fund and the Bitwise DeFi Crypto Index Fund.
Cryptocurrency index funds are increasingly used for traditional trading platforms
Crypto Profit announced that its Assets Under Management (AUM) out of all of its available funds exceeded $ 1 billion.
The company attributed its growth to two funds – the Bitwise 10 Crypto Index Fund and the Bitwise DeFi Crypto Index Fund. This type of stock index fund is the first to be marketed.
“Professional investors value index funds because they provide exposure while providing the peace of mind that strategy will be managed and rebalanced as the asset class evolves,” said Hunter Horsley, CEO of the company.
Bitwise: cryptocurrency index funds
The company’s 10 Crypto Index Fund recently surpassed $ 900 million in assets under management. It tracks an index of the 10 largest cryptocurrency assets . Some 75% of the total market capitalization of the cryptomonnaie is recorded in the index.
While the company Crypto 10 Index Fund assets largely covers cryptomonnaie the Bitwise DeFi Crypto Index Fund is a little more special. It provides “sector” exposure to assets like Uniswap and Aave , which hope to disrupt the existing financial system.
The stock index fund is a fairly new development. It launched on February 17, 2021 and saw high initial demand.
“We were impressed with how quickly the DeFi fund resonated with investors,” said Matt Hougan, chief investment officer for the company. “Investors find DeFi’s disruptive potential both exciting and intuitive,” he added.
New opportunities
Earlier this year, Bitwise announced that it had started the regulatory process to allow shares in its Bitwise Bitcoin Fund to trade on OTCQX. If approved, the fund’s units would be available on traditional trading accounts . This is already the case for the Bitwise 10 Crypto Index Fund.
“We are extremely excited to take the Bitwise Bitcoin Fund down the path recently taken by the Bitwise 10 Crypto Index Fund,” said investment fund chairman Teddy Fusaro.
Other funds cryptomonnaie outside the Bitwise Crypto 10 Index Fund, include Osprey Bitcoin Trust, which was launched last month. Grayscale’s Bitcoin Trust (GBTC) is also booming and helped the company reach $ 25 billion under management last month.
