Bitwise Launches ‘Crypto Innovators’ ETF

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Crypto asset management firm Bitwise announced the launch of the ‘Bitwise Crypto Industry Innovators ETF’, the first listed ETF in the US with ‘crypto’ in it’s name. Bitwise has over $1.5B in assets under management. The Bitwise ETF The Bitwise ETF will be listed on the New York Stock Exchange under the ticker BITQ. The company has designed a ‘Bitwise Crypto Industry Innovators 30 Index’ for the ETF to track, focused on thirty companies with material activity in the crypto sector with at least $100M of liquid crypto assets on the balance sheet. Additionally, companies in the index must derive a minimum of 75% of their revenue from “directly servicing cryptocurrency markets” or have a minimum of 75% of their net assets allocated towards direct holdings of liquid crypto assets. Matt Hougan, CIO of Bitwise, noted in the press release that there are a “growing set of public companies capitalizing…

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