Bitwise Files With SEC For ETF Based On 10 Crypto Index Fund BITW
Digital asset manager Bitwise has filed for an ETF (exchange-traded fund) that is based on its existing 10 Crypto Index Fund with the ticker BITW. The proposed Bitwise 10 Crypto Index Fund ETF will grant investors indirect access to the underlying crypto assets which the custodian “will maintain custody of,” according to a Nov. 27 filing with the US Securities and Exchange Commission (SEC). This SEC filing follows an application submitted by New York Stock Exchange (NYSE) Arca to list the Bitwise 10 Crypto Index Fund as an ETF (exchange-traded product) on Nov. 15. The Bitwise 10 Crypto Index Fund Is Mainly Made Up Of BTC And ETH The Bitwise 10 Crypto Index Fund is weighted heavily toward the leading crypto, Bitcoin (BTC). The filing shows that the fund’s allocation toward the largest crypto by market cap is over 75%. Altcoin leader Ethereum (ETH) is the fund’s next biggest allocation, with a 16.5% weighting. Other digital assets held by the fund inc...