Bitwise Tops $1 Billion In Assets Under Management, As Demand For Crypto Funds Surges Amongst Professional Investors
Bitwise Asset Management, a leading provider of index and beta crypto funds, announced today that it recently surpassed $1 billion in assets under management (AUM) across its fund family.
Bitwise manages the largest crypto index fund in the world (OTCQX: BITW) and the first DeFi index fund in the world, amongst a growing family of products: The Bitwise 10 Crypto Index Fund broadly covers crypto-assets, while the Bitwise DeFi Crypto Index Fund is a little more particular. It provides “sector” exposure to assets like Uniswap and Aave, that hope to fundamentally disrupt large swaths of the existing financial system.
“Crypto is at a turning point. We’re seeing accelerating demand from professional investors and financial advisors for exposure to crypto,” said Bitwise CEO Hunter Horsley. “Professional investors value index funds because they provide exposure while delivering peace of mind that the strategy will be managed and rebalanced as the category evolves.”
Earlier this year, Bitwise announced that it has begun the regulatory process to allow shares of its Bitwise Bitcoin Fund to trade on OTCQX. If approved, shares of the fund would be available on traditional brokerage accounts. This is already the case for the Bitwise 10 Crypto Index Fund.
“We are tremendously excited to take the Bitwise Bitcoin Fund down the path recently taken by the Bitwise 10 Crypto Index Fund,” said Bitwise President Teddy Fusaro.
Other cryptocurrency funds, apart from the Bitwise 10 Crypto Index Fund, include the Osprey Bitcoin Trust, which launched last month. Grayscale’s Bitcoin Trust (GBTC) has also been booming and has helped Greyscale to reach $25 billion AUM last month.
