Bitwise Asset Management has announced the launch of the Bitwise DeFi Crypto Fund. This will allow institutional investors to participate and gain exposure to many bluechip DeFi tokens. This fund will include nine DeFi tokens including the likes of Aave, Synthetix, Compound, Maker, and Uniswap.
Bitwise had previously launched a crypto fund focused on the top-10 cryptocurrencies. But this new fund is more focused on allowing institutional investors to access the wider, and more experimental, DeFi market.
“The DeFi space is looking to disrupt the traditional finance market, replacing overpaid bankers with automated software”. Bitwise CIO Matthew Hougan said in a recent interview with Decrypt. “That is a huge addressable market, measured in trillions of dollars.”
Hougan added, “DeFi is enormously risky, of course. We expect there to be blow-ups and hacks in the space over time. But there is also significant potential and very real growth that deserve people’s attention.”
Bitwise DeFi Crypto Fund
The Bitwise DeFi Crypto Fund holds a portfolio of cryptocurrencies that power DeFi services and a committee. Known as the Bitwise Crypto Index Committee, oversees and adjusts the fund’s Index.
Additionally, the fund is supported by the Bitwise Decentralized Finance Advisory Council. Which is composed of a group of DeFi experts, including Aleks Larsen, venture investor at Blockchain Capital, and Avichal Garg, managing partner at Electric Capital.
A minimum investment of $25,000 is required from accredited investors and the expense ratio is 2.5%. Which includes costs related to custody, tax, accounting, and management fees. The custodian of the fund is Anchorage, which became the first federally chartered digital asset bank in U.S. history earlier this year.
Many factors will be considered for adding new assets or rebalancing the fund and that will all be overseen by the Committee. Also, the fund is rebalanced each month with subscriptions and redemptions allowed on Tuesday and Thursday every week.
Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.
0x partnered with Coinbase to power its NFT platform. Responding to the news, its native token ZRX jumped nearly...
Our Partners
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.