Bitwise Files SEC ETF for Crypto Index Fund
Bitwise, the digital asset manager, recently filed with the US Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) based on its 10 Crypto Index Fund, tickered as BITW. This new ETF would provide investors with indirect access to a diversified portfolio of crypto assets, with custody maintained by a dedicated custodian.
The Bitwise 10 Crypto Index Fund primarily consists of Bitcoin (BTC) and Ethereum (ETH), with over 75% allocated to BTC and 16.5% to ETH. Other cryptocurrencies in the fund include Solana (SOL), Ripple (XRP), Avalanche (AVAX), Cardano (ADA), Chainlink (LINK), Bitcoin Cash (BCH), Uniswap (UNI), and Polkadot (DOT). The total assets under management (AUM) for the fund currently exceed $1.42 billion.
Bitwise has been actively making strategic moves in the cryptocurrency space, including rebranding its European XRP ETF and filing for a new ETF with direct exposure to BTC and ETH. Additionally, NYSE Arca recently filed to list a Bitwise ETF containing both BTC and ETH, as well as registering a statutory trust in Delaware for a proposed spot Solana ETF.
These developments highlight Bitwise’s commitment to opening up access for investors to the evolving world of digital assets. Let us know your thoughts on these latest moves in the crypto market!
