The post Bitwise Files To Convert 10 Crypto Index Funds into An ETP! appeared first on Coinpedia Fintech News
Bitwise Asset Management announced that it has filed to list 10 Crypto Index Fund (BITW) as an exchange-traded product (ETP). Reportedly, the $1.3 billion publicly traded trust trades on the “OTCQX” Best Market. Notably, this conversion to an ETP will offer more benefits to its shareholders by improving efficiency, regulatory protections, and mechanisms. Matt Hougan, Bitwise’s CIO, stated that Bitwise aims to provide investors with easy exposure to the groundbreaking potential of crypto. The BITW was the first crypto index fund and tracked 10 crypto assets. As per the latest recording, it holds Bitcoin at 75.1%, Ethereum at 16.5%, Solana at 4.3%, XRP at 1.6%, Cardano at 0.7%, Avalanche at 0.6%, Bitcoin Cash at 0.4%, Chainlink at 0.4%, Uniswap at 0.3%, and Polkadot at 0.3%.