Bitwise Asset Management, a provider of crypto-asset index and beta funds, announced on Tuesday it recently surpassed $1 billion in assets under management (AUM) across its fund family.
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’s products include:
- Bitwise 10 Crypto Index Fund (OTCQX: BITW)
- Bitwise DeFi Crypto Index Fund
- Bitwise Bitcoin Fund
- Bitwise Ethereum Fund
Bitwise further revealed that since its launch in 2017, the Bitwise 10 Crypto Index Fund recently surpassed $900 million in AUM. The fund notably tracks an index of the ten largest cryptoassets, which includes Bitcoin, Ethereum, Litecoin, and Chainlink. Assets in the index account for more than 75% of the total crypto market as measured by market capitalization. Speaking about the milestone, Bitwise CEO Hunter Horsley, stated:
“Crypto is at a turning point. We’re seeing accelerating demand from professional investors and financial advisors for exposure to crypto. 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.”
Bitwise recently announced the launch of its 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. 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
