[Bitwise’s Cryptocurrency Index Fund BITW to Trade on NYSE Arca]
Crypto asset management firm Bitwise Asset Management announced today that its crypto index fund—Bitwise 10 Crypto Index ETF (BITW)—will be upgraded to the NYSE Arca market, becoming an exchange-traded product. Launched in 2017, BITW was the first cryptocurrency index fund, designed to track the Bitwise 10 Large Cap Crypto Index, providing investors with broad and diversified exposure to the cryptocurrency market. The fund holds the 10 largest crypto assets by market cap, with active selection and monthly rebalancing.
Under its new ETP structure, BITW will allocate 90% of its holdings to crypto assets currently held by existing single-token ETPs—currently including Bitcoin, Ethereum, Solana, and XRP—and limit the combined weighting of all other crypto assets to 10%. If other crypto assets receive the same regulatory approval as BTC, ETH, SOL, and XRP, BITW will be able to include them in the 90% holdings category.
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Bitwise's cryptocurrency index fund BITW will be traded on the New York Stock Exchange Arca market.
[Bitwise’s Cryptocurrency Index Fund BITW to Trade on NYSE Arca]
Crypto asset management firm Bitwise Asset Management announced today that its crypto index fund—Bitwise 10 Crypto Index ETF (BITW)—will be upgraded to the NYSE Arca market, becoming an exchange-traded product. Launched in 2017, BITW was the first cryptocurrency index fund, designed to track the Bitwise 10 Large Cap Crypto Index, providing investors with broad and diversified exposure to the cryptocurrency market. The fund holds the 10 largest crypto assets by market cap, with active selection and monthly rebalancing.
Under its new ETP structure, BITW will allocate 90% of its holdings to crypto assets currently held by existing single-token ETPs—currently including Bitcoin, Ethereum, Solana, and XRP—and limit the combined weighting of all other crypto assets to 10%. If other crypto assets receive the same regulatory approval as BTC, ETH, SOL, and XRP, BITW will be able to include them in the 90% holdings category.