Bitwise Asset Management, a provider of crypto-asset index and beta funds, announced on Monday the launch of the Bitwise Decentralized Finance (DeFi) Crypto Index Fund. According to Bitwise, the formal index methodology is public and is overseen and adjusted on an ongoing basis by the Bitwise Crypto Index Committee.
While sharing more details about the index, Matt Hougan, CIO of Bitwise Asset Management, stated:
“DeFi is the story of 2021. The growth and activity in the market is incredible. Today there are decentralized trading venues handling over $30 billion in volume per month; automated lending programs making individual loans as large as $200 million, and the total estimated value of funds currently locked into DeFi-related contracts recently crossed $40 billion.”
Bitwise reported that the Bitwise Crypto Index Committee is supported by the Bitwise Decentralized Finance Advisory Council, a group of industry-leading DeFi experts who provide insights on the emerging sector. The Advisory Council features:
- Michael Anderson, Managing Partner, Framework Ventures
- Ben Forman, Managing Partner, ParaFi Capital
- Avichal Garg, Managing Partner, Electric Capital
- Aleks Larsen, Venture Investor, Blockchain Capital
- Scott Lewis, Founder, DeFi Pulse
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. It also recently surpassed $500 million in assets under management (AUM), after reporting $100 million in AUM on October 28, 2020.