Bitwise Cryptocurrency Funds Exceed $100 Million in Assets

Bitwise assets exceed $100 million in assets.

Bitwise Asset Management, the provider of index-based crypto funds for professional investors, said that assets under management had surpassed $100 million.

According to the press release, the Bitwise 10 Crypto Index Fund, which tracks the prices of 10 leading cryptocurrencies, including Bitcoin, Ethereum and Litecoin, is enjoying the strongest demand from investors.

The fund’s shares are available via private placement. The company plans for the shares to begin trading on an exchange later this year.

According to Bitwise’s chief investment officer Matt Hogan, cryptocurrency “bridged the gap for professional investors” in 2020.

“The issues they had kept at arm’s length, including regulation, custody, reputation and understanding, are rapidly being resolved. Meanwhile, against the current macroeconomic backdrop, it is hard to ignore the potential impact of cryptocurrencies on risk-adjusted portfolios,” he noted.

According to Bitwise’s survey, this year the number of financial advisers considering adding crypto assets to portfolios will rise by more than twofold—from 6% to 13%.

In addition to the Bitwise 10 Crypto Index Fund, the company offers Bitcoin- and Ethereum-based funds, shares of which are also available via private placement.

Earlier in September, Bitwise announced that its Bitcoin fund attracted $8.9 million.

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