SAN FRANCISCO – (BUSINESS WIRE) – August 3, 2021–
Bitwise asset management, the world’s largest crypto index fund manager with more than $ 1.0 billion in assets under management, 1 today announced the launch of the Bitwise Uniswap (UNI) and Bitwise Aave (AAVE) funds. These two new strategies join the Bitwise DeFi Crypto Index Fund to simplify access to the emerging space of decentralized finance (DeFi) for professional investors.
“There is a growing demand from financial advisers, hedge funds, institutions and other professional investors for exposure to fast growing DeFi markets,” said Matt Hougan, CIO of Bitwise. “Uniswap and Aave are the two largest DeFi protocols in our DeFi index and are respectively the largest decentralized exchange and decentralized lending protocol in the world. Bitwise’s vision is to make emerging crypto opportunities more accessible, and we’re excited to take the next step with the world’s first Uniswap and Aave investment funds.
The Bitwise Uniswap Fund will invest directly in UNI, the native token of the Uniswap protocol, the leading decentralized crypto exchange. Uniswap’s transparent peer-to-peer trading system has proven to be a hardware alternative to conventional exchanges (such as Coinbase). In June 2021 alone, Uniswap processed more than $ 60 billion in transaction volume, up 6,000% year-over-year.
The Bitwise Aave fund will invest directly in AAVE, the native token of the Aave protocol, the main decentralized, non-custodial lending and borrowing protocol. As a transparent, programmable, and peer-to-peer alternative to conventional loan providers, Aave has seen remarkable adoption: total loans outstanding on Aave’s platform increased from $ 93.7 million in July 2020 to $ 6.92 billion in July 2021, more than 70 times more year on year. 2
Bitwise manages a growing range of investment funds, including the world’s first and largest crypto index fund, the Bitwise 10 Crypto Index Fund (OTCQX: BITW), which aim to simplify access to the full range of opportunities in the crypto space. The UNI and AAVE funds will be part of a growing line of DeFi-focused products, including the Bitwise DeFi Crypto Index Fund, which launched in February 2021 as the first DeFi index fund in a traditional fund format. The company focuses on partnering with investment professionals and today serves RIAs, financial advisers, multifamily offices, high net worth individuals, hedge funds and other institutional investors.
The custodian of the new funds is Anchorage Digital Bank, NA, which became the first federally chartered digital asset bank in US history in January 2021, and today secures billions of dollars in cryptoassets. .
1 As of July 26, 2021.
2 From July 26, 2020 to July 26, 2021. Ethereum ETL and CoinGecko data, available at TheBlockCrypto.com.
About Bitwise Asset Management
San Francisco-based Bitwise is one of the world’s largest and fastest growing crypto-asset managers. As of July 26, 2021, Bitwise managed over $ 1 billion through an expanding suite of investment solutions. The company is known for managing the world’s largest crypto index fund (OTCQX: BITW) and pioneering products spanning bitcoin, ethereum, DeFi, and crypto-focused stock indices. Bitwise is focused on partnering with financial advisors and investment professionals to provide quality education and research. The Bitwise team combines technological expertise with decades of experience in managing and indexing traditional assets, from companies such as BlackRock, Blackstone, Facebook and Google, as well as the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been featured in Institutional Investor, CNBC, Barron’s, Bloomberg, and The Wall Street Journal.
DISCLOSURE OF RISKS AND IMPORTANT INFORMATION
Carefully review the investment objectives, risk factors, and fees and expenses of any Bitwise investment product before investing. Investing involves risks, including the possible loss of capital. There is no guarantee or assurance that the methodology used by Bitwise or any of the Bitwise investment products will result in a Bitwise investment product achieving positive investment returns or outperforming other Bitwise products. investment. There is no guarantee or assurance that an investor’s investment objectives will be achieved through an investment in any Bitwise investment product, and an investor may lose money. Investors in any Bitwise investment product must be prepared to accept a high degree of price volatility and the possibility of large losses, including the total loss of the investment. Bitwise investment products carry a substantial degree of risk and are only available to accredited institutional and individual investors.
Some of Bitwise’s investment products may be subject to the risks associated with investing in crypto assets, including cryptocurrencies and crypto tokens. Because cryptoassets are a new technological innovation with a limited history, they are a highly speculative asset. Future actions or regulatory policies may limit the ability to sell, trade, or use a cryptoasset. The price of a crypto-asset can be impacted by the transactions of a small number of holders of that crypto-asset. Cryptoassets can lose popularity, acceptance or use, which can impact their price. Cryptoassets and blockchain technology is new and developing. Currently, there are a limited number of publicly traded or publicly traded companies for which crypto-assets and blockchain technology represent an attributable and significant source of income.
The opinions expressed here are intended to provide insight or education and are not intended as individual investment advice. Bitwise does not guarantee that this information is accurate and complete and should not be relied upon as such.
This material represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results. This information should not be taken by the reader as research or investment advice concerning the funds or any particular security. Past performance is no guarantee of future results.
Diversification may not protect against market risk. Diversification does not guarantee a profit or protect against a loss in a declining market.
Bitwise may attempt to have the shares of its investment products listed on a secondary market. However, there is no guarantee that this will be successful. Although the shares of some Bitwise investment products have been approved to be traded on a secondary market, investors in any other Bitwise investment product should not assume that the shares will ever obtain such approval due to various factors. , including questions that regulators such as the SEC, FINRA or other regulators may have regarding the investment product. Accordingly, the shareholders of such an investment product must be prepared to bear the risk of investing in equities indefinitely.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction where such an offer or solicitation would be illegal, nor will there be any sale of securities in any jurisdiction. a jurisdiction in which such offering, solicitation or sale would be illegal prior to registration or qualification under the securities laws of that jurisdiction. The offering and sale of these investment products has not been registered or approved or disapproved by the Securities and Exchange Commission or the securities commission or regulatory authority of any state or foreign jurisdiction. .
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SOURCE: Bitwise asset management
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PUB: 03/08/2021 9:30 a.m. / DISC: 03/08/2021 9:32 a.m.