Bitwise Asset Management has announced that its Bitwise 10 Crypto Index Fund (BITW) will be transitioning into an exchange-traded product (ETP) following NYSE Arca’s filing for its listing.
This move aims to provide investors with a more efficient way to gain exposure to cryptocurrency. Currently operating on the OTCQX Best Market, the fund will benefit from the transition by offering better regulatory protections, increased liquidity, and an arbitrage mechanism that will align the trading price more closely with its Net Asset Value (NAV).
Bitwise CEO Hunter Horsley highlighted the advantages of ETPs as a superior vehicle for providing crypto exposure.
The company’s Chief Investment Officer, Matt Hougan, emphasized their commitment to simplifying crypto investment opportunities. Launched in 2017, BITW remains the pioneering fund offering exposure to the top 10 crypto assets.
