As the company’s members point out, the launch of these funds is largely driven by clients’ interest, and also by the fact that there are many unstable options for cryptocurrencies. The bear market is an ideal moment for investors to buy digital assets at low prices.
The main features of new funds will be assets stored in the cold storage, the guarantee of which will be supported by Kingdom Trust.
It should be mentioned that Bitwise also owns a crypto index fund – Bitwise Hold 10 Private Index Fund. Furthermore, a company has signed a cooperation with Morgan Creek Capital Management in order to launch a fund for crypto investors, where major cryptocurrencies will be available.
CEO of Bitwise, Hunter Horsley, said:
“The 68% drawdown in bitcoin prices this year has given investors a unique opportunity to enter the market at prices much thought we’d never see again,” said Hunter Horsley, Bitwise CEO. “Though an ETF has not yet been approved, investors and advisors like the fund format because it’s professionally managed and simplifies access to best-in-class custody, trading, reporting, and tax preparation, and allows for the safe capture of events like hard forks and airdrops”.
Earlier, we reported that Hunter Horsley was included in Forbes “under 30 list”, by successfully running Bitwise company.