Milestone Achieved: AUM Crosses $1 Billion

In a significant feat for the cryptocurrency market, Bitwise announced on Tuesday that its assets under management (AUM) soared past the $1 billion mark for the very first time. This achievement represents not only the growth of Bitwise but also reflects the increasing confidence in digital assets.

The Bitwise 10 Crypto Index Fund: The Main Player

The star of Bitwise’s success story is undoubtedly the Bitwise 10 Crypto Index Fund. This fund offers diversified exposure to the leading cryptocurrencies, including Bitcoin (BTC), and impressively accounts for over 90% of the firm’s total AUM. It’s like the cool kid in school that everyone wants to hang out with.

Crypto Adoption at a Turning Point

Hunter Horsely, Bitwise’s CEO, has his eyes on the future, claiming that the entire crypto industry is at a “turning point.” As professional investors and financial advisors show increasing interest in crypto, Bitwise aims to serve this growing demand. He said, “We’re seeing accelerating demand… Professional investors value index funds because they provide exposure while delivering peace of mind.” Talk about a win-win!

Expanding Horizons: The New DeFi Crypto Index Fund

Besides the flagship fund, Bitwise has recently launched the DeFi Crypto Index Fund, aimed at diversifying into decentralized finance projects. This fund includes cryptocurrencies such as Uniswap’s UNI, Aave’s LEND, and Synthetix Network Token (SNX) among others. It’s no surprise that DeFi is attracting attention, as it promises exciting possibilities for investors.

The Investor Climate: Shifting Perspectives

According to Matt Hougan, Bitwise’s chief investment officer, the interest in DeFi is both thrilling and logical. As the potential for disruption grows, investors are eager to embrace this sector. Bitwise’s AUM has doubled since Q4 of 2020, indicating a robust appetite for crypto among investors who are becoming more comfortable and less concerned about career risks.

Future Plans: New Crypto Innovators Fund on the Horizon

In a strategic move, Bitwise has filed with the United States Securities and Exchange Commission to launch a new Crypto Innovators Fund. This fund is designed to track the performance of the Bitwise Crypto Innovators Index, targeting companies that generate over 75% of their revenue from the digital asset sector. It’s an exciting time for Bitwise and the crypto landscape!