Bitwise Asset Management has launched the Bitwise 10 Crypto Index Fund (BITW), an open-ended publicly traded statutory trust available for investors who want exposure to a diversified group of cryptocurrencies including Bitcoin, Ethereum, and others.
The fund debuted Wednesday on the OTCQX, the top tier of the over-the-counter (OTC) market, with approximately $120 million in assets at just over $25 a share. By late afternoon, it was trading just under $31 a share. The fund has an expense ratio of 2.5 percent and is available for purchase through traditional brokerage accounts at Schwab, Fidelity, and other firms.
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