Bitwise tops USD1bn in AUM

Bitwise Asset Management, a provider of index and beta crypto funds, has surpassed USD1 billion in assets under management (AUM) across its fund family.

Bitwise manages the largest crypto index fund in the world and the first DeFi index fund in the world, amongst a growing family of products:

"Crypto is at a turning point. We're seeing accelerating demand from professional investors and financial advisors for exposure to crypto," says Bitwise CEO Hunter Horsley. "Professional investors value index funds because they provide exposure while delivering peace of mind that the strategy will be managed and rebalanced as the category evolves."

Launched in 2017, the Bitwise 10 Crypto Index Fund recently surpassed USD900 million in AUM. The fund tracks an index of the 10 largest cryptoassets, including bitcoin, ether, litecoin, and chainlink. Assets in the index account for more than 75 per cent of the total crypto market as measured by market capitalisation.

The Bitwise DeFi Crypto Index Fund provides "sector" exposure to cryptoassets that aspire to fundamentally disrupt large parts of the legacy financial ecosystem, including Uniswap, Aave, Synthetix, and Maker. The fund launched on February 17, 2021, and has seen strong initial demand.

"We've been impressed with how quickly the DeFi fund has resonated with investors," says Bitwise Chief Investment Officer Matt Hougan. "Investors find DeFi's disruptive potential both exciting and intuitive." 

Bitwise has also seen growth for the single-asset Bitwise Bitcoin Fund and Bitwise Ethereum Fund, which provide professionally managed exposure to Bitcoin and Ethereum, respectively. Earlier in February, Bitwise announced it had begun the regulatory process to allow shares of the Bitwise Bitcoin Fund to begin public trading with a ticker on OTCQX.

All of the Bitwise funds offer ongoing private placements to accredited investors via

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