Originally published on: November 15, 2024
Bitwise Asset Management has taken a bold step by requesting NYSE Arca to list their Bitwise 10 Crypto Index Fund as an exchange-traded product (ETP). This fund includes a diversified portfolio of the top 10 cryptocurrencies, such as Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP, and more.
The filing, made on Nov. 15, signifies Bitwise’s commitment to providing investors with efficient and convenient exposure to the crypto market through ETPs. With holdings in major cryptocurrencies like Bitcoin and Ether, the fund aims to offer a balanced approach to digital asset investment.
Bitwise CEO Hunter Horsley emphasized the benefits of ETPs, citing regulatory protections and increased shareholder efficiency. The company’s move towards converting its trust into an ETP structure demonstrates a strategic shift in delivering crypto investment opportunities.
Analysts like Eric Balchunas believe that the filing is a logical step in the evolving crypto landscape, especially in light of potential regulatory changes. While uncertainties remain, this development highlights the growing interest in cryptocurrency investment tools.
The NYSE Arca’s recent filing to list a Grayscale fund with a similar basket of cryptocurrencies underscores the industry’s momentum towards ETPs. As the market continues to evolve, opportunities for diversified crypto investments are becoming more accessible to a broader range of investors.
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