August 9, 2020

Bitwise Launches New Bitcoin and Ethereum Cryptocurrency Funds

Bitwise Launches New Bitcoin and Ethereum Cryptocurrency Funds

Bitwise Asset Management investment company has launched 2 new cryptocurrency funds Bitcoin and Ethereum. According to Representatives 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, the minimum investment amount is $ 1 million, the share of expenses is 1%.
  2. For all other investors, the minimum investment amount is $ 25,000, the share of expenses is 1.5%.

Bitwise is also the creator of 4 other cryptocurrency funds:

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

Bitwise Director Hunter Horsley stated:

“68% depreciation of Bitcoin gives investorsa unique opportunity to purchase coins at a very low price. Customers show 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 unique opportunitieshowever, let's argue sensibly: the Bitcoin exchange rate is likely to continue to fall, the next barrier - $ 3,000 can be reached already this week. We can talk about opportunities only if BTC will go up, but there is not a single real reason for changing the trend, all technical indicators indicate the preservation of a downtrend.