Bitwise Launches Three New Crypto Index Funds

Last month, Bitwise Asset Management submitted an application for a top-10 cryptocurrency ETF. Announced Aug. 15, Bitwise is now launching three new indexes covering the small-total cap segments of the overall cryptocurrency market.

Bitwise Asset Management subsidiary Bitwise Index Services LLC is set to launch three additional index funds for investment, according to a press release.

Bitwise conducted research "On thousands of individual crypto pairs representing 99.9 percent of all eligible cryptoasset volume" and reviewed over 250 cryptocurrencies to fully capture the total market.

These index funds are not yet available for investment.

Bitwise will also rename its market benchmark, HOLD 10 Cryptocurrency Index, to the 10 Large Cap Crypto Index.

Each new index fund will utilize a 5-year-diluted market cap among other eligibility requirements to face liquidity, volume and custody limitations.

The new Bitwise index funds will be available for review on Bloomberg, Reuters, FactSet and other financial data providers.

To mitigate risks surrounding regulation, security and liquidity, Bitwise launched an index advisory board comprised of industry experts from both traditional finance and cryptocurrency backgrounds.

"One unique thing about Bitwise is the firm's ability to blend deep, crypto-specific expertise with in-depth knowledge of institutional asset management and indexing. The Bitwise Crypto Index Advisory Board and the family of Bitwise indexes launching today are proof of that."

"Well-constructed indexes and index-linked products are key to the development of efficient investment and risk management in any new asset class. I am pleased to help Bitwise bring such tools to the rapidly evolving cryptocurrency market."