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Bitwise Launches World’s First Decentralized Finance (“DeFi”) Crypto Index Fund

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Bitwise Asset Management, creator of the world’s largest crypto index fund, the $800 million AUM Bitwise 10 Crypto Index Fund (OTCQX: BITW), today announced the launch of the Bitwise DeFi Crypto Index Fund.

Decentralized finance (“DeFi”) refers to the emerging category of digital, peer-to-peer financial services technologies that enable trading, loans, interest accounts, and more. Using public blockchains and cryptoassets rather than legacy systems, DeFi services aim to cut out traditional Wall Street intermediaries, allowing for the potential to facilitate faster operation, 24/7 availability, no minimums or paperwork, full transparency, and auditability.

“DeFi is the story of 2021,” said Matt Hougan, chief investment officer for Bitwise Asset Management. “The growth and activity in the market is incredible. Today there are decentralized trading venues handling over $30 billion in volume per month; automated lending programs making individual loans as large as $200 million; and the total estimated value of funds currently locked into DeFi-related contracts recently crossed $40 billion.”

The new Bitwise fund holds a portfolio of cryptoassets that power these DeFi services, and seeks to track the Bitwise Decentralized Finance Crypto Index. Holdings are screened for important risks, weighted by market capitalization, and rebalanced monthly.

The formal index methodology is public, and is overseen and adjusted on an ongoing basis by the Bitwise Crypto Index Committee.

The Bitwise Crypto Index Committee is supported by the Bitwise Decentralized Finance Advisory Council, a group of industry-leading DeFi experts who provide insights on the emerging sector.

The Advisory Council features:

  • Michael Anderson, Managing Partner, Framework Ventures
  • Ben Forman, Managing Partner, ParaFi Capital
  • Avichal Garg, Managing Partner, Electric Capital
  • Aleks Larsen, Venture Investor, Blockchain Capital
  • Scott Lewis, Founder, DeFi Pulse

Initial constituents and weights of the Index as of 4 p.m. ET on Feb. 16, 2021, were:

Asset

Ticker

Category

Weight

Uniswap

UNI

Exchange

25.14%

Aave

AAVE

Lending

23.37%

Synthetix

SNX

Derivatives

11.80%

Maker

MKR

Lending

10.67%

Compound

COMP

Lending

8.73%

UMA

UMA

Derivatives

6.16%

Yearn.Finance

YFI

Asset Management

5.47%

0x

ZRX

Exchange

5.07%

Loopring

LRC

Exchange

3.60%

The Fund’s custodian is Anchorage Digital Bank, N.A., which became the first federally chartered digital asset bank in U.S. history in January, and today secures over $5 billion in cryptoassets.

“DeFi is happening now, every day, and the growth is exponential. As the first national digital bank, we’re here to enable its broader adoption as a qualified custodian. We’re happy to enable more DeFi participation through Bitwise’s new fund,” said Diogo Mónica, president and co-founder of Anchorage Digital.

The Fund’s expense ratio is 2.5%, which includes costs related to custody, tax, accounting, and management fees. In the future, the fund may seek to facilitate public trading of shares in a secondary market.

Blockchain

Global Digital Lending Platform Market Forecast to Surge, Reflecting a Projected CAGR of 21.9% Through 2028 with Focus on Asia-Pacific Regional Growth

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Investview to Expand into the Securities Brokerage Business – Completes the Acquisition of Broker-Dealer, “Opencash Securities, LLC”. – Updated

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DeFi Technologies’ Wholly-Owned Subsidiary Valour Inc., Bitcoin Suisse AG, and STOXX Launch the 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP

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DeFi Technologies Inc. (the “Company” or “DeFi Technologies”) (NEO: DEFI) (GR: MB9) (OTC: DEFTF), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi”), is pleased to announce that its subsidiary, Valour Inc. (“Valour”), a leading issuer of exchange traded products (“ETPs”) that provide simplified access to digital assets, has partnered with Bitcoin Suisse AG, and STOXX in launching the innovative 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP. This pioneering product marks a significant step forward in the digital asset market, providing a diversified investment approach to the top blue-chip digital assets in a simple and secure manner.

This new ETP is built upon the existing partnership between Valour and Bitcoin Suisse AG (“Bitcoin Suisse”), initially formed to develop Exchange Traded Products (ETPs) backed 1:1 by digital assets. This collaboration has been leveraging the unique capabilities and extensive expertise of both Valour and Bitcoin Suisse in the digital asset market. The primary focus of their joint efforts is to launch, list, operate, and distribute ETPs in both the international and Swiss markets. Swiss crypto-finance and technology pioneer Bitcoin Suisse, with its established brand recognition in the crypto assets sector, complements Valour’s role as an issuer of ETPs and provider of an exchange listing platform for digital assets.

Andrej Majcen, Chief Executive Officer of Bitcoin Suisse, commented “With this index based ETP, we are excited to be able to offer the possibility to passively diversify into the digital asset market. Our goal is to enable investors to make more informed investment decisions by providing them with professional tools in a maturing market. The Blue-Chip Index is derived methodically from a systematic rule set, making digital asset selection for portfolio diversification more accessible and less complex. Once more, Bitcoin Suisse continues to demonstrate its strength as a pioneer by delivering the first leading smart beta investment product for digital assets. With a rule based asset selection, the Blue-Chip Index is Europe’s first investment alternative to pure top market cap crypto asset strategies. We are proud to collaborate with well established and trusted partners in the global financial markets for the launch of this innovative product.“

The 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP is uniquely structured to track the performance of the STOXX Digital Asset Blue Chip X Index. This index offers exposure to leading assets within the broader STOXX Digital Asset Blue Chip Index, specifically those trading on Xetra. The ETP employs a rule-based passive index methodology, meticulously designed to encompass a comprehensive spectrum of the cryptocurrency market.

Assets are classified into sectors such as Cryptocurrency, General Purpose Smart Contract Platform, Decentralized Finance (DeFi), Utility, and Culture, using the Bitcoin Suisse Global Crypto Taxonomy (GCT). The selection of assets is based on a rigorous multi-step process aimed at identifying the most influential and representative assets in each sector. This selection is re-evaluated quarterly, ensuring the ETP remains reflective of the dynamic digital asset market.

“With a maximum weighting limit of 30% for each underlying crypto, the new 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP serves as the perfect tool for entering the crypto world with just one position in your portfolio,” adds Marco Infuso, Chief Sales Officer at Valour. “It can be used as a kind of satellite approach in an institutional portfolio and is ideal as a monthly savings plan solution for retail customers.”

This ETP is the result of a synergistic collaboration between Valour, Bitcoin Suisse, and STOXX, each bringing unique strengths to the table. Valour provides its proven expertise in ETP issuance, Bitcoin Suisse offers its deep-rooted experience in the crypto-finance and technology domain, and STOXX contributes its renowned capabilities in index creation and management.

The post DeFi Technologies’ Wholly-Owned Subsidiary Valour Inc., Bitcoin Suisse AG, and STOXX Launch the 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP appeared first on HIPTHER Alerts.

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