Bitwise launches new Cryptocurrency Index Fund with focus on Altcoins – Sept 10

Bitwise Asset Management has debuted a new index fund aimed at investors who are particularly interested in altcoins.

The San Francisco-based company’s new “Ex Bitcoin” fund includes popular cryptocurrencies such as Ethereum, Cardano, and Bitcoin Cash.

BTC dominance has dropped from 69% to 41% over the past year, while other tokens like ETH have increased their capitalization by almost 75%.

Matt Hougan, Bitwise Chief Investment Officer, said:

“The introduction of the index is being driven by customer demand. Many investors are currently exposed to Bitcoin but are excited about the dynamic developments surrounding other assets.

The new fund enables investors to supplement their existing Bitcoin exposure with a professionally managed solution to capture other cryptocurrencies with high market capitalization. “

The platform will offer investment opportunities in the areas of decentralized finance (DeFi), smart contracts, and non-fungible tokens (NFT).

The complete list of ex-bitcoin funds includes Ethereum, Cardano, Bitcoin Cash, Solana, Chainlink, Litecoin, Uniswap, Polygon, and Stellar.

Bitwise is the world’s largest fund manager for crypto indexes, with over $ 1 billion in assets. This is the company’s second big step in crypto management after launching its first retail crypto index fund last December.

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Annie

According to Dailyhodl

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