Cryptocurrency Fund Management Company Bitwise Launches Web3 Based ETF!

Cryptocurrency index fund manager Bitwise Asset ManagementBitwise, which includes investing in five categories of Web3 companies Web3 exchange traded fund (ETF) put it on the market.

Cryptocurrency Fund Management Company Bitwise Launches Web3-Centered ETF

The Bitwise Web3 ETF (BWEB) is now on the New York Stock Exchange, according to the US Securities and Exchange Commission (SEC) filing dated Oct. (NYSE Arca) is being traded.

NYSE Arca is a fully electronic, US-based exchange for listing and trading ETFs.

BWEB is based on the Bitwise Web3 Stocks Index and has management fees that amount to 85% of average daily net assets. The fund’s start date was set as October in a statement submitted to the SEC.

Bitwise Chief Investment Officer Matt Hougan said in a statement:

“With the Bitwise Web3 ETF, we are excited to give investors the opportunity to capture one of the fastest emerging themes in technology through the various companies we believe will lead.”

BWEB includes investing in Web3 companies in five categories: infrastructure providers, finance, metaverse bitcoin digital worlds, Web3-enabled creative economy and development and governance.

Bitwise said on its website that at least 85% of its ETF portfolio offers the opportunity to invest in up to 40 companies that are directly linked to business activities on the Web3.

Bitwise has $1.3 billion in assets under management. One of the company’s key products is the Bitwise Crypto Industry Innovators ETF (BITQ), which is listed on NYSE Arca with a net asset value (NAV) of $63 million, according to MarketWatch.

*Not investment advice.