Bitwise, Morgan Creek Partner on New Crypto Fund

The new Digital Asset Index Fund uses a market-cap-weighted methodology to offer exposure to the 10 largest digital currencies. Bitcoin and ethereum combine for 85% of the new fund’s weight while Bitcoin Cash and EOS combine for 8.4%, according to issuer data. Litecoin, Dash and Monero are among the other digital currencies represented in the fund.

The new fund “is available to approved institutional investors and accredited investors, including endowments, foundations, pensions, wealthy families, and sovereign wealth funds,” according to the statement.

Bitwise is backed by leading institutional and individual investors, including Khosla Ventures, General Catalyst, Blockchain Capital, Naval Ravikant, David Sacks, Elad Gil, Adam Nash, Adam Ludwin, Suna Said, and Avichal Garg. The firm is a partner to individuals, financial advisors, family offices, investment managers, and institutions in navigating cryptocurrency. The team behind Bitwise has expertise in technology, security, and finance, and is headquartered in San Francisco.

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