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SAN FRANCISCO, 5 December 2018 / PRNewswire / – Management of bit-by-bit assets, creator of the world's first cryptocurrency fund, today announced the launch of two new low-cost liquid beta funds, which hold only bitcoins and ether. The Bitwise Bitcoin Fund and the Bitwise Ethereum Fund represent the second and third strategy of the Bitwise family of funds, becoming part of the Broadwise 10 Private Index Fund.
The launch of the funds is driven by the interest of inbound customers and investor dissatisfaction with existing options, many of which provide for premiums, debit release fees, blockages and / or charge charges to the fund at outside the management fee indicated.
"The 68% reduction in bitcoin prices this year gave investors a unique opportunity to enter the market at prices that many thought we would never see again," he said Hunter Horsley, Bitwise CEO. "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. "
The Bitwise Bitcoin Fund holds bitcoins and aims to capture the total returns available to investors in the largest cryptoasset in the world, including any significant fork and significant drops. The Bitwise Ethereum fund does the same for ether. The funds protect the holdings in 100% cold storage with a third-party institutional custodian and prepare simple K-1 tax documents for investors every year.
The funds are available today in two classes of shares: institutional actions have a total expenditure of 1% and a minimum investment of $ 1 million, while investor actions have a total expenditure of 1.5% and a minimum investment of $ 25,000. Investors can enter and exit the fund on a weekly basis, without blockages, withdrawal fees or performance fees. The funds are open to investors accredited by the United States.
"With important positive developments at the horizon, including the launch of the bitcoin Bakkt futures exchange from ICE, the launch of Fidelity Digital Assets and the ongoing movement of institutional investors such as Yale University is Stanford University in the encrypted space, we saw a significant incoming demand for high quality bitcoin and ether funds, "he said Matt Hougan, head of global research 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."
Both funds are open and accept subscriptions, with the first subscription date scheduled for today, 5 December 2018, to 4 pm. ET.
About Bitwise
Bitwise is a leading provider of cryptoasset beta indices and funds. The company is supported by institutional and individual investors, including Khosla Ventures, General Catalyst, Blockchain Capital, Navik Ravikant, Alison Davis, David Sacks, Elad Gil, Adam Nash, Adam Ludwin, Suna said, is Avichal Garg. The company is a partner for individuals, financial consultants, family offices, investment managers and institutions in the navigation of cryptocurrencies. The Bitwise team combines deep expertise in technology, security, indexing and asset management and has its headquarters San Francisco.
For more information
www.bitwiseinvestments.com
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Hewes Communications, Inc.
Tucker Hewes212-207-9451
[email protected]
information
Bitwise Asset Management, Inc. and its affiliates (collectively, the "Manager") are providing this version (this "Version") to potential sophisticated investors for information purposes only in relation to a potential opportunity to take out limited liability interests (" shares ") in the Bitwise Bitcoin Fund, LLC and in the Bitwise Ethereum Fund, LLC (the" Funds "). This is not a sales offer or solicitation for an offer to buy Shares in the Fund. The shares will be offered and sold under the exemption provided for in Section 4 (a) (2) of the Securities Act of 1933 and Rule 506 of the D Rules promulgated on the basis thereof. The Fund will not be registered as an investment company under the Investment Company Act of 1940 and subsequent amendments. The private placement of shares in the Funds may be offered to certain United States– Accredited investors as defined in Rule 501 of Regulation D, promulgated under the US Securities Act of 1933. Any offer to sell or solicitation of an offer to purchase shares will be made exclusively through final offer documents, identified as such, in relation to the funds in accordance with the terms of the applicable securities and other laws. These final offer documents, if any, will describe the risks related to an investment in the Fund (including the loss of the entire investment) and will qualify the information contained in this Release in its entirety.
No investment advice; Risk of loss
Before making any investment decisions in relation to the Funds, each investor must undertake an independent review and investigation of the Funds, including the merits and risks associated with investing in Shares, and must base its investment decision, including a determination the shares would be a suitable investment for the investor, on that review and investigation and should not rely on the Manager or the Funds in making such an investment decision. Potential investors should not interpret the contents of this Release as legal, tax, investment or other advice. Each potential investor is invited to consult its advisors on legal, tax, regulatory, financial, accounting and similar investment consequences in the Sub-Funds, the suitability of the investor's investment and other relevant matters relating to a investment in the funds. This version contains a summary summary of the terms of the funds. The summary presented in this communication is not intended to be complete and is qualified in its entirety referring to the final offer documents relating to the Funds. Do not rely excessively on this version.
SOURCE Bitwise Asset Management
Related links
http://www.bitwiseinvestments.com
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