WisdomTree has joined a competitive race to be the first United States company to launch such a product on the local market. Other contenders include VanEck, which filed on Dec. 30, Valkyrie on Jan. 22, and Bitwise Asset Management and New York Digital Investment Group (NYDIG) in February. Recent rumors say investment bank giant Goldman Sachs could soon join them.
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Bitwise Asset Management CIO Matt Hougan calls DeFi "the story of 2021" (Photo: Bitwise Asset Management)Bitwise launches DeFi Crypto Index Fund
Bitwise Asset Management’s new index fund includes nine decentralized finance cryptocurrencies, including Uniswap, Aave, and Maker
The new Bitwise DeFi Crypto Index Fund seeks to take advantage of the rapidly growing DeFi market, which is increasingly seen as a viable alternative to traditional finance, offering peer-to-peer financial services like loans and lending, decentralized exchanges, and derivatives, among others.
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Bitwise crosses $500M in assets under management
The crypto index fund provider and asset manager’s assets increased fivefold since the end of October
“The speed at which professional investors are moving into crypto right now is remarkable,” said Bitwise co-founder and CEO Hunter Horsley, noting that a growing number of institutional investors are increasingly convinced that it has a place in mainstream portfolios.
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Crypto fund manager Bitwise liquidates XRP
The firm sold its XRP holdings after the SEC claimed in a lawsuit that the cryptocurrency is a security—which can only be sold by registered broker-dealers
“The Bitwise 10 Crypto Index Fund does not invest in assets that are reasonably likely to be deemed securities under federal or state securities laws,” the company said. “Bitwise's decision to liquidate its position in XRP was based on consideration of new public information from the SEC's complaint.”
