Bitcoin market capitalization: BTC breaks USD 1,000,000,000 (trillion) mark

by Patricia Lin
Bitcoin market capitalization: BTC breaks USD 1,000,000,000 (trillion) mark

On February 17, 2021, Bitwise Asset Management introduced that it thanks Anchorage for launching the world's first DeFi index fund.

It's official, the primary DecentralizedFinance (DeFi) index fund has began. Bitwise Asset Management, the issuer of the world's largest crypto index fund (Bitwise 10 Crypto Index Fund, OTCQX: BITW), confirms this in a press launch.

The DeFi fund is secured by the Anchorange Digital Bank (ADB). This turned the primary regulated on-line monetary establishment within the USA in January. Anchorage is now securing 5 billion in crypto investments.

DeFi is occurring now, daily, and the expansion is exponential. As the primary nationwide digital financial institution, we’re right here to facilitate its broader takeover as a certified custodian. We are excited to allow extra DeFi participation via Bitwise's new fund

Diogo Ménica, President and Co-Founder of Anchorange

The new Bitwise fund holds a portfolio of crypto property that provide decentralized finance providers, most notably Uniswap. The choice of DeFi property is topic to strict rules. The distributions are checked for vital dangers, weighted in accordance with market capitalization, and rebalanced month-to-month.

When the DeFi Index Fund was issued, the weightings have been as follows:

Press launch Bitwise Asset Management

The value of the fund is 2.5 %, together with bills associated to custody, tax, accounting and administration prices.

The fund attracts on the experience of the Bitwise Decentralized Finance Advisory Council, a bunch of industry-leading decentralized finance consultants who present insights into the rising sector. This contains:

  • Michael Anderson, Managing Partner, Framework Ventures
  • Ben Forman, Managing Partner, ParaFi Capital
  • Avichal Garg, Managing Partner, Electric Capital
  • Aleks Larsen, Venture Investor, Blockchain Capital
  • Scott Lewis, Founder, DeFi Pulse

Bitwise doesn’t commerce this fund publicly. The DeFi fund is simply accessible to accredited traders as a non-public placement. Bitwise can envision buying and selling decentralized finance ETFs on a secondary market sooner or later.

Leave a Comment