Bitwise : p/bitwise | Product Hunt

p/bitwise The leading provider of index and beta cryptoasset funds.

Bitwise - The world’s first cryptocurrency index fund.

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7yr ago

Bitwise's first product, the Bitwise Hold10 Private Index Fund, is a market cap-weighted basket of the top 10 cryptocurrencies by network value. Backed by AngelList founder Naval Ravikant.

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Eddie Cohen

Infinite Machine P1

This seems extremely promising! I'd much prefer to invest in the Bitwise Hold10 instead of any single cryptocurrency.

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7yr ago

Hunter Horsley

Bitwise

Maker

Hi Adam, thanks for posting this. Hong and I are the cofounders of Bitwise. Thought I'd say hello and thank you! The goal for Bitwise is to make it easier for people to invest in cryptocurrency. Our first vehicle, the Bitwise HOLD 10 Private Index Fund aims to be a low cost, convenient, and safe way to own a portfolio of the top 10 cryptocurrenies, which comprise 85% of the market. There's a lot of information on our site: www.bitwiseinvestments.com We also wrote a blog post with more detail and a bit about what we're trying to accomplish with the company: https://medium.com/bitwise-asset... We love thinking about the details, both from an engineering perspective and financial. There's tons to consider. Happy to hear from anyone who has thoughts on the space or what we're doing.

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7yr ago

Tim

What's the legal distinction between this index fund and the Winklevoss ETF that was shut down (or at least delayed) earlier this year? Does a fund like this need SEC approval?

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7yr ago

Hunter Horsley

Bitwise

Maker

@aggriffith good question. There are lots of differences. Our first fund that we announced this week, the Bitwise HOLD 10 Private Index Fund, is a private fund. ETFs are public funds. And within public funds, ETFs are special because they have to use what's called an authorized participant to keep the price of their shares that are trading on the exchange in sync with the value of the underlying assets ("NAV"). The AP needs to arbitrage the price and NAV. Because the AP is affiliated with the fund, ETFs have to get an exemption from an SEC regulation called regulation M. Of course all of this is better articulated by a lawyer but thought I'd share a bit about it. More on regulation M here: https://www.sec.gov/interps/lega...

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7yr ago