Crypto Index Fund Bitwise Offers A New Way To Invest In BTC

The Crypto index fund Bitwise has just created a new way to invest in BTC which will track the 10 biggest crypto assets that will allow investors to put cash into crypto so let’s read more in the latest cryptocurrency news today.

Crypto index fund Bitwise announced today that its 10 crypto index fund is live which made it the first publicly traded crypto fund index fund based in the US. The Fund tracks the 10 biggest crypto assets while it still had no luck in getting a BTC ETF approval in the states. Crypto management company Bitwise Asset Management announced that shares of the 10 crypto index fund is live. Known as “The Fund” the crypto index will track the 10 largest crypto assets by allowing investors both accredited and retail investors to purchase shares that represent them. The fund is billed as the first publicly traded crypto index fund in the US with the BITW ticker symbol.

BITW is the first crypto index fund that trades in traditional US brokerage accounts.

This is is a historic moment for the crypto space.

A big THANK YOU to our team and service providers who made this possible! pic.twitter.com/EKxOCmf3Qv

— Bitwise (@Bitwise) December 9, 2020

the fund debuted today with $120 million in assets under management and most of them are Bitcoin with 75% representation, 13% in ETH, and the remaining 12% split between XRP, LTC, Chainlink, Tezos, EOS, Stellar, and Bitcoin Cash. Bitwise Chief Investment Officer Matt Hougan said that the cryptocurrency was the best performing asset class in the world in 2020

Bitcoin in comparison to a number of investments like stocks, gold, and real estate as it delivers a higher rate of return over a four year period according to research from Messari. Hougan added:

 “The start of public trading for shares of BITW will make it significantly easier for financial advisers, family offices, individuals, and institutional funds to allocate to the space. We believe the Fund offers a robust, one-stop solution.”

We are beyond excited to announce that the Bitwise 10 Crypto Index Fund is the first US publicly-traded crypto index fund.

Fund shares are now trading in traditional brokerage accounts under the ticker BITW.

Press release: https://t.co/1frCdlmueC pic.twitter.com/cuL2HudYeT

— Bitwise (@Bitwise) December 9, 2020

The Fund is governed by the committee and an advisory board of experts that will guide it. the goal is that the investors can put their money on without having to deal with storing and buying of digital assets. despite launching the first crypto index fund, the company struggled to get a BTC ETF approved after getting rejected a few times by the SEC. A BTC ETF tracks or follows the price of BTC so people that want to speculate on the price can do so without having to own the asset. ETFs are different from index funds as they can be traded all day while the index funds can only be purchased for a set price per day.