Bitwise Asset Management simply launched a brand new index fund which caters to buyers particularly keen on altcoins.
The San Francisco-based agency’s new “Ex Bitcoin” providing contains well-liked cryptocurrencies comparable to Ethereum (ETH), Cardano (ADA), and Bitcoin Cash (BCH), amongst others.
BTC’s whole market capitalization of crypto has fallen from 69% to 41% previously yr whereas different tokens, comparable to ETH, have seen their share of the cap improve by almost 75%, in accordance with TradingView.
Chief funding officer Matt Hougan explains,
“This launch is being pushed by buyer demand. Many buyers right this moment [already] have publicity to Bitcoin, however are excited by the dynamic developments going down round different property.
This new fund permits buyers to enhance their present Bitcoin publicity with a professionally managed resolution that captures different large-cap cryptoassets.”
The platform will present funding alternatives within the fields of decentralized finance (DeFi), sensible contracts, and non-fungible tokens (NFTs).
The full roster of the Ex Bitcoin fund is made up of Ethereum, Cardano, Bitcoin Cash, Solana (SOL), Chainlink (LINK), Litecoin (LTC), Uniswap (UNI), Polygon (MATIC), and Stellar (XLM).
Bitwise is world’s largest crypto index fund supervisor with over $1 billion in property. This is the agency’s second main transfer into crypto administration, having launched the first-ever crypto index fund for retail buyers final December.
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