April 23, 2024

Bitwise launched new cryptocurrency funds Bitcoin and Ethereum

Bitwise launched new cryptocurrency funds Bitcoin and Ethereum

Investment company Bitwise Asset Management has launched 2 new cryptocurrency funds Bitcoin and Ethereum. According toRepresentatives of the company, the current situation in the digital asset market provides unique opportunities for investors.

On December 5, Bitwise launched 2 funds: Bitwise Bitcoin Fund and Bitwise Ethereum Fund. All cryptocurrency will be stored in a cold wallet of Kingdom Trust. On Wednesdays, Bitwise Asset Management will pay capital investments and accept applications for the purchase of cryptocurrency. For each fund, 2 types of financial instruments have been created:

  1. For institutional investors– minimum investment amount $1 million, cost share – 1%.
  2. For all other investors – minimum investment amount $25,000, cost share – 1.5%.

Bitwise is also the creator of 4 other cryptocurrency funds:

  1. Bitwise 10 Private Index Fund.Includes the top 10 cryptocurrencies by market capitalization over a 5-year period – Bitcoin, XRP, Ethereum, Stellar, Bitcoin cash, EOS, Litecoin, Zcash, Monero, DASH.
  2. Bitwise 20 mid cap. Consists of the top 20 digital assets by capitalization level that were not included in the Bitwise 10 Private Index Fund.
  3. Bitwise 70 small cap. Includes the 70 largest cryptocurrencies by capitalization that are not included in the 10 Large Cap and 20 Mid Cap.
  4. Bitwise 100 total market. Consists of 100 virtual currencies that occupy leading positions in terms of capitalization over a period of 5 years.

Bitwise Director Hunter Horsley stated:

“Bitcoin rate decline by 68% givesinvestors have a unique opportunity to purchase coins at a very low price. Clients are showing interest in cryptocurrency funds thanks to the professionalism of the Bitwise team. Our company guarantees the safety of savings and complies with all legal requirements.

Horsley talks about the unique opportunitieshowever, let's think sensibly: the Bitcoin rate will most likely continue to fall, the next barrier – $3,000 could be reached within this week. We can talk about opportunities only if BTC rises in price, but there is not a single real reason for changing the trend; all technical indicators point to the continuation of the downward trend.