Crypto News

Bitwise Bought Half a Billion Bitcoin and ETH

Did you know?

Oil investments can produce massive capital gains from attractive dividend income when the prices of oil and gas are high and from share price appreciation. So, whether newbie and seasoned investors don’t miss oil investing in their portfolio. Want to be one of the oil investor millionaires in the world but don’t know where to start? Interested to diversify your portfolio and add oil investment into it? Don’t miss this chance. Sign up for free today!

The Bitwise 10 Crypto Index Fund has bought $502,428,024 worth of mostly bitcoin and eth as well as other cryptos.

Katherine Dowling, the COO at Bitwise 10, said in a filing with the Securities and Exchanges Commission (SEC) that 1,048 investors contributed towards this half a billion.

The fund is traded on OTC Markets and has a similar structure as the Grayscale Bitcoin Fund (GBTC), but instead of being limited to just bitcoin it has other cryptos.

In particular eth makes up 25% of the Bitwise fund, with bitcoin at 69%. Other cryptos are at less than 5% in total, including BCH, Litecoin, Chainlink, the very new Polygon, Stellar, Uniswap, Filecoin and EOS at less than 1% each.

The fund began trading just this December with it quickly growing from an initial $120 million of assets under management.

Much of this half a billion was probably around that time as the filing was amended, with the fund now reaching $664 million in assets under management and a market cap of $683 million.

   

Source

Exit mobile version