Bitwise has launched a new crypto fund to provide users more investment options

On September 9, 2021, Bitwise will launch another investment product.

According to a press statement, the investment fund is known as Bitwise 10 ex Bitcoin Crypto Index Fund. Investors will be introduced to digital assets other than Bitcoin through this program.

Increasing the Popularity of Altcoins

The Bitwise 10 ex Bitcoin Crypto Index Fund plans to add nine additional digital assets to its portfolio. The fund’s altcoins have market caps ranging from $7 billion to $397 billion. As a result, cryptocurrency investors can get their hands on Ethereum, Cardano, and Solana.

Furthermore, the Bitwise Crypto Index Committee is in charge of the fund. The Bitwise Crypto Index Advisory Board adds to the investment product’s assistance. Bitwise has approximately $1 billion in assets under management by February 2021. The Bitwise ten ex Bitcoin fund may boost the company’s asset management values even more.

Bitwise’s chief investment officer also acknowledges that alternative coins are in high demand. Although Bitcoin is the most popular cryptocurrency, people have expressed interest in other large-cap currencies.

Additional Product Information

Altcoins’ usability applications are another element driving their popularity. However, Bitcoin’s usefulness is limited since it functions as a payment medium or a reserve asset. Other digital assets, such as Ethereum, have a wider range of applications, making them more versatile.

The assets will also be evaluated by the new crypto fund based on several areas. The coin’s regulatory measures, custody, and liquidity are only a few of the subjects covered. The Coinbase Custody Trust Company is in charge of all asset funds.

Furthermore, there are two types of investment shares: institutional and investor shares. For a minimum investment of $1 million, institutional shares have an expense ratio of 2.0 percent. For amounts starting at $25,000, investor shares have a 2.5 percent cost ratio.

Bitwise’s Other Investment Products

Bitwise strives to make it easy for everyone to invest in digital currencies. The Bitwise 10 Crypto Index Fund (BITW) was established in 2017 under the BITW ticker. The fund invests in digital currency indices that rank in the top 10. BITW achieved 400 percent profits for its investors in just four years.

Bitwise’s DeFi Crypto Index is another investment vehicle. The DeFi fund launched in February 2021, with Ethereum-based tokens at the top of its priority list. Uniswap, Aave, Maker, and Compound are among the DeFi tokens accessible for investment.

Furthermore, Anchorage Digital Bank is in charge of the DeFi investment funds. Thus, Bitwise’s range of products may, in the end, boost global acceptance of digital currencies.

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