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After reaching a peak close to $ 20,000 a year ago, the Bitcoin digital currency lost more than 80%, but rather than ruminating on what it was, other companies await the potential of cryptocurrencies in the future. He joined Bitwise Asset Management, the creator of the world's first cryptocurrency fund, which announced the launch of two new low-cost liquid beta funds, with exclusive bitcoin 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% lowering of bitcoin prices this year offered investors a unique opportunity to enter the market at prices that many thought we would never see again," said Hunter Horsley, CEO of Bitwise. "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 share classes: Institutional Shares have a flat rate of 1% and a minimum investment of $ 1 million, while the investor's shares have a total cost 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.
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