Bitwise Launches 10 Crypto Index Fund ETF on NYSE Arca
Bitwise’s $1.25B BITW fund debuts on NYSE Arca holding Bitcoin, Ether, and other top assets, offering monthly market-cap weighted exposure to the ten largest cryptocurrencies.
BTC
ETH
Summary
Bitwise Asset Management announced the debut of its Bitwise 10 Crypto Index ETF (BITW) on NYSE Arca as an exchange-traded product, managing $1.25 billion in assets. BITW holds 74.34% Bitcoin, 15.55% Ether, and other top cryptocurrencies, with monthly rebalancing to maintain market-cap weighted exposure. The fund tracks the ten largest cryptocurrencies and marks another milestone in bringing diversified crypto exposure to traditional exchange investors.
Terms & Concepts
- Bitwise 10 Crypto Index Fund (BITW): A $1.25 billion fund tracking the ten largest cryptocurrencies, rebalanced monthly by market capitalization and liquidity filters.
- Exchange-Traded Product (ETP): A type of security that trades on exchanges and derives its value from underlying investment assets such as commodities, currencies, or indices.
- Monthly Rebalancing: A process where portfolio holdings are adjusted once a month to maintain a predetermined asset allocation or index tracking.