Bitwise Follows VanEck with New Crypto ETF
Pexels.com
Main page News, US Market, US, Bitcoin-ETF

Bitwise Asset Management, a cryptocurrency asset manager, has submitted a new filing to the US Securities and Exchange Commission (SEC), according to which, the company wants to launch a new exchange-traded fund (ETF) called 'Bitwise Crypto Innovators ETF.' The filing says the fund will be focused on companies that service and transact in the segment of the crypto and blockchain market.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Crypto Innovators will track the performance of companies that operate crypto exchanges, custodians and wallets. The fund will reportedly be 70% of companies that derive more than 75% of their revenue directly from crypto activities. These category one Crypto Innovators must have a minimum market capitalization of $100 million, the filing highlights.

Bitwise Wants to Receive Approval to Publicly Trade on OTCQX

The other 30% will include companies with large market capitalization identified by the index committee. These category two Crypto Innovators must have a minimum market capitalization of $10 billion.

Bitwise's ETF is similar to the VanEck's one. As iHodl reported, VanEck also submitted a filing with the SEC for a 'Digital Assets ETF.' VanEck's would monitor the MVIS® Global Digital Assets Equity Index, focused on companies that operate cryptocurrency exchanges, payment gateways, mining operations, software services and equipment.

VanEck says companies listed in the index must generate "at least 50%" of their revenues from crypto projects or projects that, when developed, have the potential to generate at least 50% of their revenues from the crypto industry. The ETF will reportedly invest approximately 80% in the index.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error
Close