Bitwise Launches New Crypto Index ETF on NYSE Arca
Bitwise, a top digital asset fund manager, has launched the Bitwise 10 Crypto Index ETF. It started trading on the NYSE Arca on Tuesday under the symbol BITW. The ETF holds a basket of ten cryptocurrencies that meet specific criteria.
Details of the Bitwise 10 Crypto Index ETF
- The ETF includes the ten largest cryptocurrencies by market value.
- The fund rebalances its holdings every month.
- All assets are assessed for liquidity, security, and compliance risks.
- There is no cap on the largest asset allocation.
Bitwise said, “If Bitcoin becomes the only valuable crypto, BITW will hold mostly Bitcoin for investors.”
Currently, Bitcoin makes up 74.34% of the ETF. Ethereum is next at 15.55%, followed by Ripple (XRP) at 5.17%, and Solana (SOL) at 3.07%. Smaller shares include Cardano (ADA), Chainlink (LINK), Litecoin (LTC), Sui (SUI), Avalanche (AVAX), and Polkadot (DOT).
What Makes This ETF Different for Investors?
This crypto index fund works like a traditional index fund. It lets investors buy a basket of cryptocurrencies at once instead of choosing individual coins.
Since it is an ETF, investors buy it on stock exchanges like NYSE Arca. They don’t have to hold or store the actual cryptocurrencies. This offers easy access to crypto markets without the hassle of managing digital wallets.
