$json.BodyEdited: Bitwise Asset Management’s 10 Crypto Index Fund (BITW) is making a significant leap by moving from the over-the-counter market to the NYSE Arca, a major regulated securities exchange. This transition, effective Tuesday, integrates BITW into the mainstream trading ecosystem as an exchange-traded product (ETP), enhancing accessibility for investors seeking diversified exposure to the top 10 cryptocurrencies by market capitalization, including Bitcoin, Ether, Solana, and XRP. Since its inception in 2017, BITW has provided a monthly rebalanced portfolio that mirrors the evolving crypto landscape. Listing on NYSE Arca marks an important milestone, positioning crypto assets alongside traditional ETFs and reducing barriers for investors hesitant about navigating crypto-specific platforms. According to Bitwise chief investment officer Matt Hougan, the index approach allows investors to embrace the future of crypto without needing to predict which assets will prevail. Bitwise’s pioneering steps also include early approval for a spot Bitcoin ETF in January 2024, with their Bitwise Bitcoin ETF Trust (BITB) swiftly reaching $1 billion in assets shortly after launch. The broader institutional interest in digital assets continues to rise amidst regulatory developments and market volatility. Despite a major liquidation event in October 2023 and subsequent outflows, recent weeks have seen renewed inflows exceeding $1.7 billion into crypto ETPs, signaling resilient confidence in the sector’s potential.
$json.CompelingTitle: Bitwise’s Crypto Index Fund Takes a Major Step Into the Mainstream with NYSE Arca Listing
Link: https://cointelegraph.com/news/bitwise-crypto-index-fund-nyse-arca