Bitwise 10 Crypto Index Fund Makes Waves with NYSE Arca Filing
Bitwise Asset Management has taken a significant step by filing with NYSE Arca to list its 10 Crypto Index Fund (BITW) as an exchange-traded product (ETP). This move underscores the growing maturity and integration of cryptocurrencies within traditional financial markets.
The Bitwise 10 Crypto Index Fund includes allocations across ten leading cryptocurrencies. As of October 31, 2024, the composition is:
Bitcoin (BTC) - 75.1%
Ethereum (ETH) - 16.5%
Solana (SOL) - 4.3%
XRP - 1.6%
Cardano (ADA) - 0.7%
Avalanche (AVAX) - 0.6%
Bitcoin Cash (BCH) - 0.4%
Chainlink (LINK) - 0.4%
Uniswap (UNI) - 0.3%
Polkadot (DOT) - 0.3%
This initiative reflects Bitwise’s vision to make cryptocurrencies more accessible to investors by leveraging the regulatory and structural advantages of ETPs. The fund’s transition to an ETP aims to offer efficient trading closely linked to the assets' net asset value, reducing premiums often associated with such products
Stay tuned for updates as Bitwise and NYSE Arca work towards integrating this fund into the broader investment landscape.
Source. --- Coin telegraph, Bitwise Investments, and Business Wire
