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Bitwise, a leading cryptocurrency investment manager, declared another big achievement on Tuesday when assets under administration for its digital asset funds reached $1 billion for the first time.

The Bitwise 10 Crypto Index Portfolio, which offers diversified exposure to Bitcoin (BTC) and other leading cryptocurrencies, accounts for more than 90% of the overall AUM.

Hunter Horsely, CEO of Bitwise, said that the crypto market is at a “turning point” with regard to acceptance. He explained the following:

“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.”

The asset manager also announced growth in its investment family, including its recently introduced DeFi Crypto Index Fund, which offers sector exposure to decentralized finance ventures. DeFi includes cryptocurrencies such as Uniswap’s UNI, Aave’s LEND, Synthetix Network Token (SNX) and Maker’s MKR.

On the subject of DeFi Fund Rising, Bitwise Chief Investment Officer Matt Hougan said, “Investors find DeFi’s disruptive potential both exciting and intuitive.”

Bitwise’s investments have doubled since the fourth quarter of 2020 with more investors wanting large exposure to digital assets. Skilled investors are joining the market more regularly now that the “career risk” synonymous with cryptocurrencies has deteriorated.

Earlier this month, Bitwise filed its plan with the U.S. Securities and Exchange Commission to open a new crypto innovator project. The fund aims to monitor the success of the still-developing Bitwise Crypto Innovators Index, which consists of companies that generate more than 75% of their sales from the digital asset market.

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