Bitwise Asset Management, a leading provider of index and beta crypto funds, announced today that it recently surpassed $1 billion in assets under management (AUM) across its fund family.
Bitwise manages the largest crypto index fund in the world (OTCQX: BITW) and the first DeFi index fund in the world, amongst a growing family of products:
- Bitwise 10 Crypto Index Fund (OTCQX: BITW)
- Bitwise DeFi Crypto Index Fund
- Bitwise Bitcoin Fund
- Bitwise Ethereum Fund
“Crypto is at a turning point. We’re seeing accelerating demand from professional investors and financial advisors for exposure to crypto,” said Bitwise CEO Hunter Horsley. “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.”
The Bitwise 10 Crypto Index Fund, introduced in 2017, recently reached $900 million in AUM. The fund tracks an index, including Bitcoin, Ethereum, Litecoin, and Chainlink, of the 10 biggest cryptoassets. As calculated by market capitalization, assets in the index represent more than 75 percent of the overall crypto market.
The Bitwise DeFi Crypto Index Fund provides “sector” exposure to cryptoassets that, including Uniswap, Aave, Synthetix, and Creator, aim to fundamentally disrupt significant portions of the legacy financial ecosystem. The fund was launched on 17 February 2021, and the initial demand was high.
“We’ve been impressed with how quickly the DeFi fund has resonated with investors,” said Bitwise Chief Investment Officer Matt Hougan. “Investors find DeFi’s disruptive potential both exciting and intuitive.”
Bitwise has also seen growth in the single-asset Bitwise Bitcoin Fund and Bitwise Ethereum Fund, which provide Bitcoin and Ethereum with professionally controlled exposure, respectively. Bitwise announced earlier in February that it had started the regulatory process to allow Bitwise Bitcoin Fund shares to start public trading on OTCQX with a ticker.