Bitwise Breaks Grayscale Record With Its New Public Crypto Fund

Bitwise's cryptocurrency investment fund (BITW) broke the record in its category, during its debut on the US public stock markets. The asset had an exchange volume equivalent to 67 million dollars.

The new exchange fund, Bitwise 10 Crypto Index Fund (BITW), debuted on December 9 on the OTCQX Best Market, breaking the record previously obtained by Grayscale's Ethereum Fund, when in June 2019 it debuted with a volume of 9 million dollars.

Although in the press release , BitWise claims to be the first public cryptocurrency investment fund to be created, the truth is that Grayscale's Bitcoin fund joined OTCQX in May 2015.

The BITW fund is made up of 10 well-known cryptocurrencies and has the equivalent of $ 135 million in assets to exchange, they say. As of November 30 this year, the fund was made up of 75% Bitcoin, 13% Ethereum, and the remaining 12% between Ripple, Litecoin, Chainlink, Tezos, and other cryptocurrencies.

The investment fund balance is adjusted monthly. Its governance method is governed by a committee of international consultants, experts in investment and analysis of crypto assets. Some of the board members are Spencer Bogart of Blockchain Capital, Srikan Dash, Business Director of Indexed Funds for Bloomberg and Director of Research and Index Design for S&P, among others.




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