Bitwise launches Bitcoin based crypto fund

posted 10 days ago
Bitwise Asset Management, the creator of several cryptocurrency index funds, today announced the launch of a new low-cost, liquid beta fund, holding Bitcoin exclusively. The launch of the fund is driven by inbound client interest and investor dissatisfaction with existing options, many of which carry premiums, charge exit fees, have lockups, and/or charge expenses to the fund outside the stated management fee.

"The 68% drawdown in Bitcoin prices this year has given investors a unique opportunity to enter the market at prices many thought we'd never see again," said Hunter Horsley, Bitwise CEO. "Though an ETF has not yet been approved, investors and advisors like the fund format because it's professionally managed and simplifies access to best-in-class custody, trading, reporting, and tax preparation..." The Bitwise Bitcoin Fund aims to capture the total returns available to investors in the world's largest cryptoasset.
Tags: bitcoin, news