Index ETF Tracking 10 Cryptocurrencies Filed With SEC

Bitwise Asset Management has announced its plan to launch "the first
publicly-offered cryptocurrency index exchange-traded fund (ETF)." A
registration statement has been filed with the U.S. Securities and
Exchange Commission. The fund will track the returns of the company's
Hold 10 Index which aims to capture 80% of the total market
capitalization of the cryptocurrency market.

Also read: https://news.bitcoin.com/yahoo-japan-confirms-entrance-into-crypto-space/

                       Bitwise to Launch Crypto Index ETF

Bitwise Asset Management announced Tuesday that it has filled a
registration statement for "the first publicly-offered cryptocurrency
index exchange-traded fund (ETF)."

The San Francisco-based company already manages "the world's first
privately-offered cryptocurrency index fund, the Bitwise Hold 10 private
Index Fund," it described. The open-ended private placement fund was
launched on November 22 last year and only open to accredited investors,
the company noted:

The top five components of the Hold 10 Index as of the end of June is
55% BTC, 20% ETH, 9.4% XRP, 6.4% BCH, 2.6% LTC.

"The Hold 10 Index captures approximately 80% of the total market
capitalization of the cryptocurrency market," the crypto asset manager
further elaborated. The index "uses a 5-year-diluted market cap and
other eligibility criteria meant to address challenges of the crypto
space such as continuously changing supply, trade volume concentration,
and custody limitation."

Founded in 2017, Bitwise is backed by institutional and individual
investors, including Khosla Ventures, General Catalyst, Blockchain
Capital, Naval Ravikant, Alison Davis, David Sacks, Elad Gil, Adam Nash,
Adam Ludwin, Suna Said, and Avichal Garg.

     Index-Tracking Basket of Multiple Cryptocurrencies

In its Tuesday announcement, the company revealed that "A registration
statement relating to the shares of the Bitwise Hold 10 Cryptocurrency
Index Fund ETF has been filed with the Securitises and Exchange
Commission (SEC) but has not yet been declared effective."

Bitwise's Global Head of Research Matt Hougan commented:

He noted that "at that time, we saw the launch of single-commodity ETFs
tracking gold, silver, crude oil, and other commodities, as well as ETFs
tracking diversified commodity index baskets, We see alot of similarities
here."

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