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- Bitwise Asset Management exceeded the historical mark of $1 billion in assets under management (AUM)
- The platform handles the biggest crypto index fund in the world
- Bitwise CEO highlighted that professional traders appreciate index funds because they offer exposure
Bitwise Asset Management, a dominant index and beta crypto funds provider declared that it exceeded the historical mark of $1 billion in assets under management (AUM). The platform handles the biggest crypto index fund in the world (OTCQX: BITW) and the original DeFi index fund in the world.
Bitwise’s historic accomplishment of exceeding $1 Billion
Bitwise CEO Hunter Horsley stated that the crypto space stands at a turning point. Crypto space is witnessing a stimulating demand from professional traders and financial consultants for subjection to crypto. He further added that professional traders appreciate index funds because they offer exposure. Besides, these funds also ensure that the proposal will be handled and redesigned as the category develops.
Set up in 2017, the Bitwise 10 Crypto Index Fund recently exceeded the worth of $900 million in AUM. The fund traces an index of the ten biggest crypto assets, such as Bitcoin, Ethereum, and Litecoin. Assets in the index represent more than 75% of the entire crypto market as per the data of market capitalization.
The Bitwise DeFi Crypto Index Fund offers sector exposure to crypto assets that primarily disrupt huge portions of the legacy financial framework, such as Uniswap, Aave, and Maker. The fund began functioning on February 17, 2021, and witnessed a heavy initial demand.
A professional insight
Bitwise Chief Investment Officer, Matt Hougan, stated that they are happy with how conveniently the DeFi fund has developed positive coordination with the investors. They believe that DeFi’s disruptive capability is both exciting and instinctive.
Bitwise also recorded a significant growth for the Bitwise Ethereum Fund and single-unit Bitwise Bitcoin Fund, which offer professionally handled exposure to Ethereum and Bitcoin, respectively. During the initial days of February, Bitwise declared that it is starting the regulatory process to authorize the Bitwise Bitcoin Fund shares to initiate public trading with a timer on OTCQX.
Thus, various dominant institutional investors and asset management professionals back the platform of Bitwise. It also indulges in frequent commentaries on the crypto space in the press. It holds verified profiles in Institutional Investor, Bloomberg, The Wall Street Journal, The New York Times, and several other ruling publications. The institution is a loyal partner to financial consultants, multifamily offices, hedge funds, and other executive traders as they navigate the crypto industry.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
