Bitwise Launches Two New Low-Cost Liquid Funds Focused on Bitcoin and Ether

On Wednesday (5 December 2018), crypto index fund pioneer Bitwise Asset Management announced the launch of two new single-asset funds: the "Bitwise Bitcoin Fund" and the "Bitwise Ethereum Fund".

Bitwise says that this launch was "driven by inbound client interest and investor dissatisfaction with existing options, many of which carry premiums, charge exit fees, have lockups, and/or charge expenses to the fund outside the stated management fee."

Here are the essential facts about the Bitwise Bitcoin Fund and the Bitwise Ethereum Fund:

Hunter Horsley, Co-Founder and CEO of Bitwise, said: 

"The 68% drawdown in bitcoin prices this year has given investors a unique opportunity to enter the market at prices many thought we'd never see again. Though an ETF has not yet been approved, investors and advisors like the fund format because it's professionally managed and simplifies access to best-in-class custody, trading, reporting, and tax preparation, and allows for the safe capture of events like hard forks and airdrops."

Matthew Hougan, the Global Head of Research at Bitwise, stated:

"With significant positive developments on the horizon, including the launch of the Bakkt bitcoin futures exchange from ICE, the launch of Fidelity Digital Assets, and the continued movement of institutional investors like Yale University and Stanford University into the crypto space, we have seen significant inbound demand for high-quality bitcoin and ether funds. Our clients have been adding to their positions throughout the downturn, and many who've been following the space for a while are using this opportunity to finally come in."


Featured Image Courtesy of Bitwise Asset Management