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Bitwise launches DeFi-based index fund


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Bitwise Asset Management has announced the launch of its Bitwise DeFi Crypto Index Fund. It will open access for accredited investors to a diverse basket of decentralized financing tokens.

The company’s chief investment strategist Matt Hugan notes the blocking volume in DeFi protocols $ 40 billion. A monthly decentralized exchange turnover of $ 30 billion and limits on auto-landing programs of up to $ 200 million are the successes of the DeFi industry. The top manager considers this segment of the market as “the main story of 2021”.

The fund’s advisory board is made up of decentralized financial experts drawn from partners, investors and founders.

The custodian of the fund is Federal Crypto Bank Anchorage. In January, he receives the appropriate license from the Office of the Comptroller of the Currency (OCC) under the US Treasury.

The management expense and other expenses ratio of the fund is 2.5%.

Bitwise Index

The Bitwise DeFi Crypto Index is available by subscription. The company plans to bring shares of the Bitwise DeFi Crypto Index Fund into the secondary market.

Recall that in February, the Saint-Louis Fed published a report in which it assessed the potential for DeFi’s integration into the financial system.

Analysts at financial giant AllianceBernstein pointed to the upcoming competition between the DeFi industry and banks.

Earlier in February, Bitwise requested the launch of an exchange-traded fund called Bitwise Crypto Innovators. It aims to reproduce the stock market dynamics of startups.

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