Bitwise Unveils ETF Based on Crypto Company Shares
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13 May
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The Bitwise Crypto Industry Innovators ETF, based on 30 publicly traded companies in the crypto sector, has started trading on the New York Stock Exchange under the ticker BITQ.

Asset manager Bitwise Asset Management has reported the ETF tracks the Bitwise Crypto Industry Innovators 30 index, which includes companies "engaged in actual, material activity in the crypto sector."

The index also includes companies with at least $100 million in liquid crypto assets on their balance sheets.

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In most cases, we are talking about companies that receive at least 75% of their revenues from crypto-related services, or where the share of cryptocurrencies in their net assets exceeds 75%. The index is updated quarterly. Matt Hougan, chief investment officer at Bitwise, said:

"Until recently, most great crypto innovators were private companies, but that’s changing rapidly. Today, there’s a growing set of public companies capitalizing on crypto."

In February, Bitwise filed an application to launch an ETF with the US Securities and Exchange Commission (SEC).

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