TRON (TRX) is a significant part of Bitwise's 20 Bit Cap cryptography index

Bitwise Asset Management, the cryptofinancing company behind the world's first cryptocurrency index fund, recently passed into the spotlight after an apparent update of the Bitwise 20 Mid Cap cryptography index of 10 December. The cryptography index-BITW20- holds assets classified 11-30 within the encrypted world. Together, the cryptographic asset indexes provide Bitewise Asset Management with comprehensive coverage of the index based on the market capitalization of the industry's cryptocurrencies.

What's up again?

Bitwise Invest 20, the mid-cap index, is composed of the 20 main cryptocurrency activities and the recent update by the cryptographic asset management company which raises questions on the market. According to the latest update, Tron represents 15.37% of Bitwise Invest 20, taking the most significant part of the index. Surprisingly, other major portions of the index include – 11.58% in NEM, 11.45% in IOTA, 9.66% in Ethereum Classic and 5.48% in NEO. Other notable cryptocurrencies with negligible portions include Dogecoin, Decred, Tezos, Lisk and Bitcoin Gold.

Furthermore, the version update includes the Bitwise 10 Large-Cap cryptography index, which includes the ten main cryptocurrencies in the market. The asset management index consists of 66.38% in Bitcoin, 13.64% in XRP and 9.40% in Ethereum. A further 2.30% is in Stellar and 2.02% in OES. In particular, also Bitcoin, Litecoin, Dash, Monero and Zcash are present in the list.

The reaction

The update of Bitwise Asset Management has not gone unnoticed, with plenty of comments and analysis, bringing cryptography enthusiasts on the prospects of the portfolio. Mike Dudas, a co-founder of Button, was perhaps the most individual to react to the apparent investment portfolio. He says:

"I just saw the five major resources of @BitwiseInvest 20 and I wanted to cry."

The portfolio has been the subject of further criticism from multiple sources around the crypto world. For example, Aditya Das, an analyst and crypto-market enthusiast, expresses his verdict by saying, "I am amazed by this … Does Bitcoin Gold, Lisk, and the biggest piece in the basket are TRX? Not even the boldest coin dealer. alternatives would have a wallet like this ".

Hungry meme artist, an encrypted Twitterati also gives his openly wild opinion on the Bitwise Invest 20 index adding:

"LOL, they also have 5.26% in Dogecoin and 4.2% in BTG XD shit that hilarious, 1 / 20th of this shit is in dogecoin cock."

Despite open criticism from a large part of the crypto community, Bitwise's CEO Hunter Horsley attributes the investment portfolio to the need to diversify its positions within the encrypted market. According to him, the collapse of the cryptocurrency market and in particular the price of Bitcoin is responsible for the current situation in the market.

Horsley also believes that the cryptocurrency market is in a lousy place and largely behaves like trading on the public stock market.

Information on Bitwise Asset Management

Bitwise Asset Management is a cryptographic index based on San Francisco and a provider of Beta funds within the digital resource space. The development team combines its modern software experience and asset management expertise to provide well-structured indices and indexed products.