🚨🇺🇸 the cryptocurrency asset management company Bitwise Asset Management announced today that its cryptocurrency index fund, the Bitwise 10 Crypto Index ETF (BITW), will be transferred to the Arca market of the New York Stock Exchange, thus becoming an exchange-traded product. Initially launched in 2017, BITW is the first cryptocurrency index fund, designed to track the Bitwise 10 Large Cap Crypto Index, providing investors with a broad and diversified investment opportunity in the cryptocurrency market. The fund holds the 10 largest cryptocurrencies by market capitalization, with active selection and monthly rebalancing.
According to its new ETP structure, BITW will allocate 90% of its positions to cryptocurrencies held by existing individual token ETPs — currently Bitcoin, Ethereum, Solana, and XRP — and will limit the total weighting of other cryptocurrencies to 10%. If other cryptocurrencies receive the same regulatory approval as BTC, ETH, SOL, and XRP, BITW will be able to include them in the category representing 90% of its positions.
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