Bitcoin bulls looking to diversify can now put money in a Crypto-index fund. Bitwise Asset Management closes a $4 million funding round backed by investors including Keith Rabois, David Sacks and Naval Ravikant. The Bitwise’s Hold 10 index fund is now the world’s first crypto-index fund.
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For people looking to get in on cryptocurrencies without having to bet on a single one, the Hold 10 index fund is supposed to make crypto-investing as easy as buying the S&P 500. Bitwise Asset Management started accepting investors into Hold 10.
In a recent statement by the CEO of Bitwise, Hunter Horsley he said “We and our investors believe that a vehicle like this, or passive index investing as an approach, is a great way for many people to participate in cryptocurrency”.
The Hold 10 index is the latest investment vehicle to launch in the cryptocurrency space.
Right now investors have to be U.S-based and accredited since it’s a private investment vehicle and not an ETF. The minimum investment is $10,000 – which is generally much less than a crypto-focused hedge fund would require. Going forward they’re planning on launching a Cayman Island vehicle so international investors can participate.