Bitwise Multi-Crypto ETF Featuring Major Assets Goes Live
The post Bitwise Multi-Crypto ETF Featuring Major Assets Goes Live appeared on BitcoinEthereumNews.com.
The latest ETF by Bitwise having various crypto assets is now trading on the NYSE Arca. The Bitwise ETF with the ticker BITW provides investors with a single product to access major digital assets. Why Is Bitwise’s New Crypto ETF Significant? The announcement stated that the ETF consists of Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Litecoin, Sui, Avalanche, and Polkadot. The launch marks a major milestone for Bitwise because the fund operated as an index product for years. It was previously held up by the SEC during the review process. Bitwise has now completed the transition, giving the fund a full exchange-traded structure. In addition, the Bitwise ETF arrives with $1.25 billion in assets under management, making it the largest crypto index fund in the world by size. The firm said this listing reflects years of work to expand access to digital assets. Bitwise CIO Matt Hougan recently highlighted an increase in institutional conviction with a particular reference to the recent allocation for Bitcoin by Harvard University. He observed that a lot of investors desired a regulated index ETF, which does not need selection of individual tokens. This option is finally available on the major U.S. exchange with this ETF launch. Why Bitwise Uses a Rules-Based Index Moreover, the Bitwise ETF is rules-based and ranks the assets according to their market value and filters the assets by risk and liquidity. The fund is rebalanced each month to maintain holdings to the most valuable assets in the crypto market. The index currently gives its biggest weight to Bitcoin, which represents more than 74% of the basket. Ethereum is next with approximately 15%, then there is XRP, Solana, and Cardano having a lesser percentage. Bitwise clarified that such a structure eliminates the necessity of making speculative choices about crypto assets that will…
