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Bitwise launches beta funds for bitcoin and ethereum
Investment start-ups Crypto Bitwise has announced the launch of two new low-cost liquid beta funds, which hold only bitcoins (BTC) and ether (ETH).
The company said that the launch of new funds is driven by growing customer interest and investor dissatisfaction with existing options.
"Although an ETF has not yet been approved, investors and advisors such as the fund format are professionally managed and simplify access to best-in-class custody, negotiation, reporting and tax preparation and allow safe capture of events such as those difficult forks and airdrops, "explained Hunter Horsley, Bitwise CEO.
Bitwise launched the Bitwise Bitcoin Fund and the Bitwise Ethereum Fund, which represent the second and third strategy of the Bitwise family of funds, joining the Broadwise 10 Private Index Fund.
According to the official version, the funds are available today in two classes of shares:
- Institutional actions that have a total expense ratio of 1% and a minimum investment of $ 1 million.
- Investor shares with a total expense ratio of 1.5% and a minimum investment of $ 25,000.
The new funds, which are open to US-backed investors, safeguard holdings in a 100% cold store with a third-party institutional custodian, Bitwise said. Investors can enter and exit the fund on a weekly basis, without blockages, withdrawal fees or performance fees.
"With important positive developments at the horizon, including the launch of the Bakco bitcoin futures exchange from the ICE, the launch of Fidelity Digital Assets and the ongoing movement of institutional investors such as Yale University and Stanford University in space. cryptographic, we have seen significant incoming demand for bitcoin funds and high quality ether, "said Matt Hougan, global research manager for Bitwise. "Our customers have increased their positions during the crisis, and many who have followed the space for a while are taking advantage of this opportunity to finally enter."
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