Bitwise Asset Management, a provider of crypto-asset index and beta funds, announced on Monday it recently surpassed $500 million in assets under management (AUM), after reporting $100 million in AUM on October 28th. As previously reported, Bitwise Asset Management claims it pioneered the first cryptocurrency index fund and is the leading provider of rules-based exposure to the crypto-asset space. The platform noted it focuses on best-in-class security, tax preparation, and investor relations, providing a reliable and transparent path for investors to “get diversified exposure to crypto-assets.”
Bitwise shared it is made up of, backed, and advised by some of the world’s leading venture capital firms and an amazing array of investors and advisors with deep experience in tech, fintech, crypto, and traditional asset management. The company previously raised $4 million through its seed funding round almost three years ago.
Bitwise further revealed that its Bitwise 10 Crypto Index Fund (OTCQX: BITW), which seeks to track an index of the 10 largest cryptoassets, including Bitcoin, Ethereum, and Litecoin, has seen the strongest demand, recently crossing over $400 million in AUM. The platform also noted the Bitwise Bitcoin Fund and Bitwise Ethereum Fund, which provide low-cost, professionally managed exposure to Bitcoin and Ethereum, have seen increased demand as well. Speaking about the milestone, Hunter Horsley, Co-Founder and CEO of Bitwise, stated:
“The speed at which professional investors are moving into crypto right now is remarkable. While adoption of crypto as an asset class and conviction around its role in portfolios rapidly expands, we continue to urge all investors to consider the risks associated with investing in cryptocurrencies in general and the Bitwise Funds in particular.”
Bitwiset then added it saw record inflows into its funds during Q4 2020, surpassing the total cumulative inflows of 2018 and 2019 combined. The increased demand came primarily from Bitwise’s core audience, investment professionals, including financial advisors, hedge funds, corporate balance sheets, and other institutional investors.