Bitwise Launches Three New Cryptocurrency Market Index Funds

Why wait for an ETF? Bitwise Index Services, a subsidiary of Bitwise Asset Management, has announced the launch of three new indexes covering the mid-cap, small-cap, and total-market segments of the crypto market, as well as the renaming of its HOLD 10 Index as the 10 Large Cap Crypto Index.

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Three New Cryptocurrency Market Index Funds

The launch and rebranding of HOLD 10 means that company’s cryptocurrency index roaster now features four options for investors to choose from: 10 Large Cap Crypto Index (ticker: BITX); 20 Mid Cap Crypto Index (ticker: BITW20); 70 Small Cap Crypto Index (ticker: BITW70); and 100 Total Market Crypto Index (ticker: BITW100). The Bitwise Crypto Indexes are available throughout the established financial trading ecosystem, including via Bloomberg, Reuters, Factset, and other data aggregators. Additionally, the company also announced the creation of API access and complimentary benchmarking for hedge funds.

“Our indexes are built from the ground up to respond specifically to the cryptomarket,” said Matt Hougan, Global Head of Research. “The methodology draws on best practices from the modern indexing of equities, bonds, commodities, and fiat currencies, and pairs them with crypto-native factors to ensure the indexes are safe and replicable. We believe they are the best representation of the investable cryptoasset market in the world.”

Crypto Council

Bitwise also announced the launch of an index advisory board, featuring: Srikant Dash, former Global Head of Indexing for Bloomberg and Managing Director and Global Head of Research at Standard & Poor’s Indices; Spencer Bogart, Partner and Head of Research at Blockchain Capital; and Matt Hougan the Global Head of Research at Bitwise and former CEO of both ETF.com and Inside ETFs.

“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,” said Bogart. “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,” added Dash. “I am pleased to help Bitwise bring such tools to the rapidly evolving cryptocurrency market.”

Is this development good for the ecosystem? Share your thoughts in the comments section below.

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