Bitwise Index Services Now Offers Four Crypto Market Indexes For Investors
Bitwise Index Services, LLC a subsidiary of Bitwise Asset Management launches three new cryptocurrency index market, API as well as change the name of the first index created to HOLD 10 Index. The bitwise index service is the first to create a cryptocurrency index, and now adding three more. The announcement of the new index was made through a press release on the 15th of August, As the firm create mid-cap, small-cap, and total-market segments.
Bitwise Cryptocurrency Index Adds Three More Indexes
The new development is an achievement that will lead the regulation process of cryptocurrency and will aid the institutional acceptance ahead of the expected Bitcoin ETF approval by SEC.
The announcement was made along the creation of an API for the indexes as well as a change of the name of the previous index created by bitwise to HOLD 10 Index. So also bitwise announced a list of index advisory board, featuring experts in institutional indexing and crypto economics that will aid the growth and development of the index.
At the moment here is a list of the indexes, which are;
- Bitwise 10 Large-Cap Crypto Index (ticker: BITX)
- Bitwise 20 Mid Cap Crypto Index (ticker: BITW20)
- Bitwise 70 Small-Cap Crypto Index (ticker: BITW70)
- Bitwise 100 Total Market Crypto Index (ticker: BITW100)
The list of the advisory board has crypto economic experts such as; Srikant Dash, Matt Hougan, and Spencer Bogart.
Speaking on the new indexes, Matt Hougan the Global Head of Research at Bitwise and former CEO of both ETF.com and Inside ETFs states that,
“Our indexes are built from the ground up to respond specifically to the cryptomarket, The methodology draws on best practices from the modern indexing of equities, bonds, commodities, and fiat currencies, and pairs them with crypto-native factors to ensure the indexes are safe and replicable. We believe they are the best representation of the investable cryptoasset market in the world.”
The indexes are available on all the financial platform in the world such as Bloomberg, Reuters, FactSet, and other data aggregators, Bitwise website, and its API.
The indexes are a curation of research on more than 250 crypto asset in creating the indexes, and also the weighing and use of five-year inflation-adjusted market capitalization.
Spencer Bogart one of the index advisory board states that,
“One unique thing about Bitwise is the firm's ability to blend deep, crypto-specific expertise with in-depth knowledge of institutional asset management and indexing.”
The newly added indexes create a means for easy adoption of cryptocurrency by institutions, even as Bitcoin ETF acceptance is expected soon.