Bitwise 10 Crypto Index ETF debuts on NYSE Arca, featuring BTC, ETH and XRP
Bitwise, a leading digital asset fund manager, has launched the Bitwise 10 Crypto Index Exchange Traded Fund (ETF), which began trading on the NYSE Arca on Tuesday. The product, trading under the symbol BITW, features a basket of ten cryptocurrencies that meet specified requirements.
  • Bitwise 10 Crypto Index ETF debuts on NYSE Arca, providing investors access to a basket of the ten largest digital assets.
  • BITW's crypto assets are ranked by market capitalization and rebalanced monthly.
  • Bitcoin has the largest share of the basket at 74.34%, followed by Ethereum at 15.55% and XRP at 3.07%.

Bitwise, a leading digital asset fund manager, has launched the Bitwise 10 Crypto Index Exchange Traded Fund (ETF), which began trading on the NYSE Arca on Tuesday. The product, trading under the symbol BITW, features a basket of ten cryptocurrencies that meet specified requirements.

Bitwise BITW offers access to 10 digital assets 

The Bitwise BITW ETF holds a single basket of the ten largest cryptocurrencies by market capitalization and rebalances monthly. All the digital assets in the basket undergo risk assessment on key factors such as liquidity, security and compliance.

https://x.com/BitwiseInvest/status/1998392206684565806

Bitwise stated that the product has no cap on the largest allocation. "So if, in the future, Bitcoin is the only crypto asset that has value and the rest go to zero, BITW will hold almost entirely Bitcoin for investors."

Bitcoin (BTC) currently accounts for the largest allocation in the index fund at 74.34%, followed by Ethereum (ETH) at 15.55%, Ripple (XRP) at 5.17%, and Solana (SOL) at 3.07%. Other smaller allocations include Cardano (ADA), Chainlink (LINK), Litecoin (LTC), Sui (SUI), Avalanche (AVAX) and Polkadot (DOT).

A crypto index fund is similar to a traditional index fund, allowing investors to gain exposure to a basket of cryptocurrencies rather than investing in individual cryptocurrencies.

Since it is an ETF, the index fund is purchased directly on stock exchanges such as NYSE Arca. Investors do not need to hold the underlying assets, providing a broad exposure while eliminating the complexity of storing cryptocurrencies.

Cryptocurrency prices FAQs

Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.

A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.

Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.

Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.





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