Bitwise assets under management hit $1B, fueled by professional investors

Assets under management have dropped since the fourth quarter, highlighting increasing mainstream adoption of Bitcoin and other cryptocurrencies.
Bitwise, a major cryptocurrency fund manager, reported a second major landmark on Tuesday, since assets under management for its digital asset capital crossed $1 billion for the first time.  The Bitwise 10 Crypto Index Fund, that offers ample exposure to Bitcoin (BTC) and other major cryptocurrencies, accounts for more than 90 percent of total AUM. Hunter Horsely, Bitwise’s CEO, said the crypto industry is at a”turning point” with regard to adoption. He explained:”We’re seeing accelerating need from professional traders and financial consultants for vulnerability to crypto […] Professional traders appreciate index funds since they supply vulnerability when providing reassurance that the strategy is going to be managed and rebalanced as the group evolves.” The asset manager also reported expansion along with its family of capital, such as its newly established DeFi Crypto Index Fund, which offers sector exposure to decentralized fund jobs. The DeFi fund comprises cryptocurrencies such as Uniswap, Aave, Synthetix and Maker. On the subject of DeFi fund development, Bitwise CIO Matt Hougan said,”Investors locate DeFi’s tumultuous potential both exciting and intuitive.”  Bitwise’s resources have dropped since the fourth quarter, as more investors seek wide exposure to electronic resources. Professional traders are entering the market in greater numbers now that the”livelihood danger” associated with cryptocurrencies has declined. Before this month, Bitwise registered its intent with the Securities and Exchange Commission to launch a brand new crypto innovators fund. The fund seeks to track the functioning of the still-developing Bitwise Crypto Innovators Index, which is comprised of businesses that derive more than 75 percent of their revenue from the electronic asset industry.

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