New Digital Asset Index Fund Launches by BitWise and Morgan Creek Digital

Morgan Creek Digital and Bitwise Just Launched a New Digital Asset Index Fund

Morgan Creek Digital and crypto index provider Bitwise are teaming up to launch a new index fund aimed at institutional investors. The “Digital Asset Index Fund” will hold the top 10 largest cryptocurrencies by market capitalization.

The index fund will be available to accredited investors and other major institutions. Bitwise will manage the fund itself.

As you might expect, the fund leans heavily towards bitcoin. Today, bitcoin’s market dominance sits at 53%, which suggests that the new fund would hold 53% bitcoin.

Investors who buy a share of the fund would also get exposure to other top 10 digital assets, including Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, IOTA, and TRON.

In a statement to CoinDesk, Anthony Pompliano, cryptocurrency bull and partner at Morgan Creek Digital, said that the 2018 bear market presents a great opportunity for investors to build out their exposure to the market:

“We have been approached by many institutional investors who want to gain exposure to digital assets. By partnering with Bitwise, the leading crypto index provider, we are able to bring an institutional-grade solution to these clients. The crypto industry continues to mature and we see this as another milestone along the way.”

The fund will emphasize simplified access to crypto markets. Assets held by the fund will be kept in cold storage to enhance their overall security. Assets are governed by a set of eligibility requirements including custody qualifications, trade concentration limits, and pre-mine restrictions.

The fund will also be secured by regular audits. Auditors will verify that the fund legitimately holds the assets, giving investors an extra layer of security.

By partnering with Bitwise, Morgan Creek Digital can use the firm’s expertise within the crypto index fund space. Bitwise also offers private cryptocurrency index funds to accredited investors. Meanwhile, Bitwise is also reportedly preparing to launch its own exchange traded fund (ETF) based on the top 10 cryptocurrencies by market cap.

Today, investors use index funds to track the overall performance of a market or asset without actually owning the entire market or the physical asset. Many investors wish to gain exposure to bitcoin and other cryptocurrencies without actually worrying about cold storage, security, and purchasing the crypto-assets. ETFs and index funds will help. Although they’re currently only available to institutional investors, these index funds could appeal to retail investors in the very near future.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,482FansLike
2,795FollowersFollow
4,265FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

US Lawmakers Propose Two New Bills to Streamline Digital Asset And Crypto Exchange Regulation

The U.S. Senate released two new bills on Thursday, aiming to provide regulatory clarity on digital assets. The first, introduced by Congressman Tom Emmer...

European Commission Proposes Legislation to Turn Crypto-Assets into Regulated Financial Instruments

The European Union is set out to regulate crypto assets in the bloc, in the world’s most comprehensive set of rules to protect its...

Is Bitcoin Out of the Woods Yet or Are We Looking for Deeper Losses?

This week has been somewhat of a whirlwind. We entered the week on a negative note, with a weak performance on the past weekend. On...

Despite Regulatory Uncertainty, Huobi Exchange Launches A Mobile Trading App for Russian Users

Huobi, one of the leading crypto exchanges, launches a mobile trading app for its Russian customers. The new mobile trading app would allow Russian...

Parity Technologies Releases Substrate 2.0 to Build Custom, Scalable Blockchains Interoperable with Polkadot

Substrate has achieved a major milestone; the blockchain framework has released version 2.0, which is also compatible with Polkadot, which, along with Kusama, is...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today