Crypto News

Bitwise Bought Half a Billion Bitcoin and ETH

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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.



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